ChromaDex (NASDAQ:CDXC) Upgraded at StockNews.com

StockNews.com upgraded shares of ChromaDex (NASDAQ:CDXC) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

Other equities analysts have also issued reports about the company. Roth Mkm increased their price objective on 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.

ChromaDex Price Performance

NASDAQ CDXC opened at $5.52 on Wednesday. The company’s 50 day simple moving average is $6.05 and its two-hundred day simple moving average is $4.15. ChromaDex has a 1 year low of $1.36 and a 1 year high of $7.97. The stock has a market capitalization of $421.63 million, a PE ratio of 552.55 and a beta of 2.16.

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

Insiders Place Their Bets

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the stock in a transaction dated Friday, December 13th. The shares were 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 of the company’s stock, valued at $1,511,468.01. This 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 at this link. Insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted 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 purchasing an additional 119,915 shares in the last quarter. Rhumbline Advisers purchased a new position in ChromaDex during the second quarter valued at $124,000. WINTON GROUP Ltd bought a new stake in shares of ChromaDex during the 2nd quarter valued at $597,000. Dimensional Fund Advisors LP purchased a new stake in shares of ChromaDex in the 2nd quarter worth about $88,000. Finally, Renaissance Technologies LLC increased its stake in shares of ChromaDex by 8.4% in the 2nd quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock worth $1,136,000 after acquiring an additional 32,400 shares in the last quarter. Institutional investors own 15.41% of the company’s stock.

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.