ChromaDex Co. (NASDAQ:CDXC) Short Interest Update

ChromaDex Co. (NASDAQ:CDXC) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,110,000 shares, an increase of 6.0% from the January 15th total of 1,990,000 shares. Currently, 4.4% of the company’s stock are short sold. Based on an average daily volume of 624,900 shares, the days-to-cover ratio is presently 3.4 days.

Insider Activity at ChromaDex

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of ChromaDex stock in a transaction on Friday, December 13th. The shares were sold at an average price of $6.19, for a total value of $230,026.59. Following the completion of the sale, the director now owns 244,179 shares of the company’s stock, valued at approximately $1,511,468.01. This trade represents a 13.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChromaDex

A number of hedge funds have recently made changes to their positions in CDXC. D. E. Shaw & Co. Inc. raised its stake in shares of ChromaDex by 1,785.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock worth $5,365,000 after purchasing an additional 957,665 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of ChromaDex by 288.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock worth $3,517,000 after purchasing an additional 492,148 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of ChromaDex by 189.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company’s stock worth $2,685,000 after purchasing an additional 331,014 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of ChromaDex during the 4th quarter worth $1,647,000. Finally, Renaissance Technologies LLC raised its stake in shares of ChromaDex by 68.0% during the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock worth $3,781,000 after purchasing an additional 288,588 shares during the period. 15.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Roth Mkm raised their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com cut ChromaDex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 15th. Finally, HC Wainwright raised their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

ChromaDex Stock Up 0.8 %

NASDAQ:CDXC traded up $0.05 during trading hours on Tuesday, hitting $5.92. 525,915 shares of the company traded hands, compared to its average volume of 340,878. The firm’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $4.90. ChromaDex has a one year low of $1.48 and a one year high of $7.97. The company has a market cap of $451.79 million, a PE ratio of 592.09 and a beta of 2.21.

About ChromaDex

ChromaDex Corporation operates as a bioscience company focusing on developing healthy aging products. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers and distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.