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 report issued on Monday.

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

ChromaDex Price Performance

NASDAQ CDXC traded up $0.45 during trading on Monday, reaching $7.27. 1,433,113 shares of the company’s stock were exchanged, compared to its average volume of 533,013. The business has a 50 day moving average price of $4.20 and a 200-day moving average price of $3.46. The stock has a market capitalization of $555.30 million, a P/E ratio of 727.00 and a beta of 1.88. ChromaDex has a fifty-two week low of $1.32 and a fifty-two week high of $7.58.

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

Insider Activity at ChromaDex

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the firm’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 filing with the Securities & Exchange Commission, which can be accessed through this link. 9.64% of the stock is owned by insiders.

Institutional Trading of ChromaDex

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BSW Wealth Partners bought a new position in ChromaDex in the third quarter valued at $324,000. WINTON GROUP Ltd bought a new stake in ChromaDex in the second quarter worth $597,000. SG Americas Securities LLC purchased a new stake in ChromaDex during the first quarter valued at about $54,000. Marshall Wace LLP bought a new position in shares of ChromaDex during the second quarter valued at about $56,000. Finally, Lazard Asset Management LLC purchased a new position in shares of ChromaDex in the first quarter worth about $43,000. 15.41% of the stock is currently owned by 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.