ChromaDex (NASDAQ:CDXC) Lowered to Buy Rating by StockNews.com

ChromaDex (NASDAQ:CDXC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other research analysts have also weighed in on the company. Roth Mkm raised their target price on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. HC Wainwright upped their target price on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

ChromaDex Trading Up 0.5 %

CDXC opened at $6.15 on Tuesday. The company has a fifty day moving average price of $5.66 and a two-hundred day moving average price of $3.99. ChromaDex has a 1-year low of $1.34 and a 1-year high of $7.97. The company has a market cap of $469.76 million, a P/E ratio of 615.00 and a beta of 2.16.

ChromaDex (NASDAQ:CDXC) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. The business had revenue of $25.58 million for the quarter, compared to analyst estimates of $23.70 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, research analysts forecast that ChromaDex will post 0.04 EPS for the current fiscal year.

Insider Activity at ChromaDex

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the transaction, the director now owns 244,179 shares of the company’s stock, valued at $1,511,468.01. This represents a 13.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ChromaDex

Several institutional investors have recently made changes to their positions in CDXC. Geode Capital Management LLC lifted its holdings in shares of ChromaDex by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock worth $4,197,000 after buying an additional 17,963 shares in the last quarter. State Street Corp boosted its stake in ChromaDex by 11.3% during the third quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after buying an additional 62,692 shares during the period. Renaissance Technologies LLC increased its stake in ChromaDex by 8.4% in the 2nd quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock worth $1,136,000 after acquiring an additional 32,400 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of ChromaDex during the 2nd quarter valued at about $597,000. Finally, Bank of New York Mellon Corp boosted its position in shares of ChromaDex by 170.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock valued at $520,000 after acquiring an additional 119,915 shares during the last quarter. Hedge funds and other institutional investors own 15.41% of the company’s stock.

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.