ChromaDex (NASDAQ:CDXC) Trading Down 5.6% – What’s Next?

ChromaDex Co. (NASDAQ:CDXC) fell 5.6% during trading on Thursday . The company traded as low as $7.47 and last traded at $7.39. 62,790 shares were traded during mid-day trading, a decline of 93% from the average session volume of 867,001 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

A number of research firms have commented on CDXC. StockNews.com cut shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 6th. LADENBURG THALM/SH SH upped their target price on shares of ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, HC Wainwright upped their target price on shares of ChromaDex from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, March 10th.

ChromaDex Price Performance

The company has a market capitalization of $609.56 million, a PE ratio of 784.78 and a beta of 2.21. The stock’s 50 day simple moving average is $6.01 and its 200-day simple moving average is $5.33.

Institutional Trading of ChromaDex

Institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new stake in ChromaDex during the fourth quarter worth about $25,000. State of Wyoming purchased a new stake in ChromaDex during the fourth quarter worth about $39,000. Mercer Global Advisors Inc. ADV purchased a new stake in ChromaDex during the fourth quarter worth about $53,000. Truist Financial Corp purchased a new stake in shares of ChromaDex during the fourth quarter worth approximately $54,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of ChromaDex during the fourth quarter worth approximately $67,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

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.