StockNews.com Downgrades ChromaDex (NASDAQ:CDXC) to Buy

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

A number of other research analysts also recently commented on the company. Roth Mkm increased their price target on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. LADENBURG THALM/SH SH upped their target price on ChromaDex from $6.80 to $8.10 and gave the company a “buy” rating in a research report on Wednesday.

ChromaDex Stock Up 0.1 %

Shares of NASDAQ:CDXC opened at $7.70 on Thursday. The company has a 50 day moving average of $5.77 and a two-hundred day moving average of $5.18. ChromaDex has a 52-week low of $1.61 and a 52-week high of $9.18. The company has a market capitalization of $588.15 million, a price-to-earnings ratio of 770.77 and a beta of 2.21.

Insiders Place Their Bets

In other ChromaDex news, Director Frank L. Jaksch, Jr. sold 37,161 shares of ChromaDex stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $6.19, for a total value 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. The trade was a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.64% of the stock is owned by corporate insiders.

Institutional Trading of ChromaDex

Hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in ChromaDex in the fourth quarter worth $555,000. Two Sigma Investments LP bought a new position in shares of ChromaDex during the fourth quarter worth about $675,000. State of Wyoming acquired a new stake in shares of ChromaDex in the 4th quarter worth about $39,000. Sherbrooke Park Advisers LLC bought a new stake in ChromaDex in the 4th quarter valued at about $94,000. Finally, ProShare Advisors LLC acquired a new position in ChromaDex during the 4th quarter valued at about $74,000. 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.