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

StockNews.com cut shares of ChromaDex (NASDAQ:CDXC) from a strong-buy rating to a buy rating in a report released on Tuesday.

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

ChromaDex Price Performance

Shares of NASDAQ:CDXC opened at $6.00 on Tuesday. The business has a fifty day moving average price of $5.71 and a 200-day moving average price of $4.01. The company has a market capitalization of $458.30 million, a PE ratio of 600.00 and a beta of 2.16. ChromaDex has a 1-year low of $1.34 and a 1-year high of $7.97.

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

Insider Transactions at ChromaDex

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $6.19, for a total value 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 trade represents a 13.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXC. The Manufacturers Life Insurance Company bought a new position in shares of ChromaDex in the second quarter worth approximately $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex in the 2nd quarter worth approximately $32,000. FMR LLC purchased a new stake in ChromaDex during the 3rd quarter valued at approximately $55,000. Marshall Wace LLP bought a new stake in shares of ChromaDex during the second quarter valued at approximately $56,000. Finally, SG Americas Securities LLC purchased a new position in shares of ChromaDex in the third quarter worth $61,000. 15.41% of the stock is 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.