ChromaDex (NASDAQ:CDXC) Shares Cross Above 200-Day Moving Average – Here’s What Happened

ChromaDex Co. (NASDAQ:CDXC) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.22 and traded as high as $5.55. ChromaDex shares last traded at $5.30, with a volume of 256,732 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CDXC shares. StockNews.com upgraded shares of ChromaDex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. HC Wainwright upped their target price on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Roth Mkm raised their target price on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

ChromaDex Stock Performance

The stock’s 50-day moving average price is $6.21 and its two-hundred day moving average price is $4.22. The stock has a market capitalization of $404.83 million, a PE ratio of 530.53 and a beta of 2.15.

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

Insider Buying and Selling at ChromaDex

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm’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 completion of the transaction, the director now directly owns 244,179 shares in the company, valued at $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On ChromaDex

A number of hedge funds have recently bought and sold shares of CDXC. WINTON GROUP Ltd purchased a new position in ChromaDex in the second quarter worth about $597,000. Bank of New York Mellon Corp increased its position in shares of ChromaDex by 170.0% during the second 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 in the last quarter. BSW Wealth Partners purchased a new position in ChromaDex in the 3rd quarter worth approximately $324,000. BNP Paribas Financial Markets raised its holdings in ChromaDex by 1,885.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company’s stock worth $267,000 after acquiring an additional 69,582 shares during the last quarter. Finally, State Street Corp boosted its stake in ChromaDex by 11.3% during the 3rd quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after purchasing an additional 62,692 shares during the last quarter. 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.