ChromaDex Co. (NASDAQ:CDXC) Short Interest Down 5.4% in September

ChromaDex Co. (NASDAQ:CDXC) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,950,000 shares, a drop of 5.4% from the August 31st total of 3,120,000 shares. Based on an average daily volume of 387,800 shares, the short-interest ratio is currently 7.6 days. Approximately 6.2% of the company’s stock are sold short.

Insider Activity

In other news, Director Kristin Patrick sold 23,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total value of $82,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

A number of large investors have recently added to or reduced their stakes in CDXC. The Manufacturers Life Insurance Company acquired a new position in shares of ChromaDex during the second quarter valued at about $31,000. Marshall Wace LLP bought a new stake in ChromaDex in the 2nd quarter worth $56,000. Merriman Wealth Management LLC bought a new stake in shares of ChromaDex during the 2nd quarter valued at about $32,000. Renaissance Technologies LLC lifted its position in ChromaDex by 8.4% during the 2nd quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock valued at $1,136,000 after acquiring an additional 32,400 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in ChromaDex during the 2nd quarter valued at about $88,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CDXC shares. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of ChromaDex in a report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $6.00 target price on shares of ChromaDex in a research note on Wednesday, June 12th.

ChromaDex Stock Down 3.9 %

CDXC stock traded down $0.15 during mid-day trading on Monday, reaching $3.65. 343,618 shares of the stock traded hands, compared to its average volume of 304,019. The firm has a market capitalization of $275.72 million, a PE ratio of -73.00 and a beta of 1.86. ChromaDex has a 52 week low of $1.25 and a 52 week high of $4.65. The business has a 50-day moving average of $3.27 and a two-hundred day moving average of $3.23.

ChromaDex Company Profile

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.