ChromaDex (NASDAQ:CDXC) Reaches New 12-Month High – Here’s Why

Shares of ChromaDex Co. (NASDAQ:CDXC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.89 and last traded at $7.78, with a volume of 174627 shares changing hands. The stock had previously closed at $7.59.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Mkm increased their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright increased their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 18th.

ChromaDex Price Performance

The stock has a market cap of $583.54 million, a price-to-earnings ratio of 764.76 and a beta of 1.88. The company’s fifty day moving average price is $4.93 and its 200-day moving average price is $3.70.

ChromaDex (NASDAQ:CDXC) last posted 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 for the quarter, compared to the consensus estimate of $23.70 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. On average, sell-side analysts forecast that ChromaDex Co. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ChromaDex

Several hedge funds have recently modified their holdings of CDXC. Miracle Mile Advisors LLC acquired a new position in ChromaDex in the 2nd quarter worth approximately $27,000. The Manufacturers Life Insurance Company acquired a new position in ChromaDex in the 2nd quarter worth approximately $31,000. Merriman Wealth Management LLC acquired a new position in ChromaDex in the 2nd quarter worth approximately $32,000. Lazard Asset Management LLC acquired a new position in ChromaDex in the 1st quarter worth approximately $43,000. Finally, FMR LLC acquired a new position in ChromaDex in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds 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.