ChromaDex (NASDAQ:CDXC) Rating Lowered 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 Friday.

Several other research firms also recently issued reports on CDXC. HC Wainwright upped their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Roth Mkm upped their target price on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Trading Up 7.8 %

Shares of NASDAQ:CDXC opened at $7.01 on Friday. The company’s 50 day moving average is $3.83 and its two-hundred day moving average is $3.33. The company has a market cap of $535.42 million, a PE ratio of 697.70 and a beta of 1.88. ChromaDex has a 52 week low of $1.32 and a 52 week high of $7.08.

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

Insider Buying and Selling

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the company’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 transaction of $82,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Institutional investors have recently bought and sold shares of the company. Miracle Mile Advisors LLC acquired a new stake in shares of ChromaDex in the 2nd quarter valued at approximately $27,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ChromaDex during the 2nd quarter worth $31,000. Merriman Wealth Management LLC acquired a new position in shares of ChromaDex during the 2nd quarter worth $32,000. Lazard Asset Management LLC purchased a new position in shares of ChromaDex in the 1st quarter valued at about $43,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ChromaDex in the first quarter valued at about $54,000. 15.41% of the stock is owned by institutional investors and hedge funds.

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.