ChromaDex (NASDAQ:CDXC) Downgraded by StockNews.com to Buy

ChromaDex (NASDAQ:CDXC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.

A number of other research analysts have also commented on CDXC. Roth Mkm upped their price target on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. HC Wainwright upped their target price 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.

ChromaDex Trading Up 3.4 %

NASDAQ:CDXC opened at $7.52 on Monday. The firm has a market capitalization of $574.38 million, a PE ratio of 752.75 and a beta of 1.88. ChromaDex has a 1 year low of $1.32 and a 1 year high of $7.67. The firm’s fifty day simple moving average is $4.28 and its 200 day simple moving average is $3.48.

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

Insider Activity at ChromaDex

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction on Friday, August 23rd. The shares were 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 SEC, which is accessible through this link. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

A number of hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in ChromaDex by 322.1% in the third quarter. Barclays PLC now owns 70,072 shares of the company’s stock valued at $256,000 after acquiring an additional 53,472 shares during the period. Geode Capital Management LLC grew its stake in shares of ChromaDex by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock valued at $4,197,000 after purchasing an additional 17,963 shares during the period. Jane Street Group LLC raised its holdings in shares of ChromaDex by 100.3% in the 3rd quarter. Jane Street Group LLC now owns 45,712 shares of the company’s stock worth $167,000 after buying an additional 22,889 shares in the last quarter. State Street Corp grew its position in ChromaDex by 11.3% in the third 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 period. Finally, MetLife Investment Management LLC raised its stake in ChromaDex by 39.3% during the third quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock worth $66,000 after acquiring an additional 5,115 shares in the last quarter. 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.