ChromaDex (NASDAQ:CDXC) Share Price Passes Above 200-Day Moving Average – Here’s Why

ChromaDex Co. (NASDAQ:CDXC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.38 and traded as high as $5.52. ChromaDex shares last traded at $5.26, with a volume of 554,195 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CDXC. Roth Mkm lifted 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 objective on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

ChromaDex Stock Up 6.3 %

The business’s fifty day moving average is $6.38 and its two-hundred day moving average is $4.41. The stock has a market cap of $440.73 million, a price-to-earnings ratio of 577.58 and a beta of 2.21.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter. The business had revenue of $25.58 million during the quarter, compared to the consensus estimate of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts expect that ChromaDex Co. will post 0.04 earnings per share for the current year.

Insiders Place Their Bets

In other ChromaDex news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $6.19, for a total value of $230,026.59. Following the sale, the director now directly owns 244,179 shares of the company’s stock, valued at approximately $1,511,468.01. This represents a 13.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On ChromaDex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in ChromaDex by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock valued at $4,197,000 after buying an additional 17,963 shares in the last quarter. State Street Corp increased its holdings in shares of ChromaDex by 11.3% in the 3rd quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after acquiring an additional 62,692 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ChromaDex by 8.4% during 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. JPMorgan Chase & Co. lifted its stake in ChromaDex by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 331,916 shares of the company’s stock worth $1,211,000 after purchasing an additional 33,150 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in ChromaDex in the second quarter valued at approximately $597,000. Institutional investors and hedge funds 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.