ChromaDex (NASDAQ:CDXC) Cut to Buy at StockNews.com

StockNews.com downgraded shares of ChromaDex (NASDAQ:CDXC) from a strong-buy rating to a buy rating in a report published on Monday morning.

Several other analysts have also issued reports on the stock. HC Wainwright boosted their target price 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. Roth Mkm upped their price objective on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

ChromaDex Stock Down 0.3 %

CDXC opened at $7.50 on Monday. ChromaDex has a twelve month low of $1.32 and a twelve month high of $7.67. The stock has a market cap of $572.85 million, a price-to-earnings ratio of 735.74 and a beta of 1.88. The company’s 50-day moving average price is $4.37 and its two-hundred day moving average price is $3.51.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings results 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 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 period in the previous year, the firm posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that ChromaDex will post 0.04 earnings per share for the current year.

Insider Transactions at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. Corporate insiders own 9.64% of the company’s stock.

Institutional Trading of ChromaDex

Hedge funds have recently bought and sold shares of the stock. Miracle Mile Advisors LLC purchased a new stake in ChromaDex during the second quarter worth $27,000. The Manufacturers Life Insurance Company purchased a new position in ChromaDex during the second quarter worth about $31,000. Merriman Wealth Management LLC purchased a new position in ChromaDex during the second quarter worth about $32,000. Lazard Asset Management LLC acquired a new stake in shares of ChromaDex during the first quarter worth about $43,000. Finally, SG Americas Securities LLC purchased a new position in ChromaDex in the first quarter worth approximately $54,000. Hedge funds and other institutional investors 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.