ChromaDex (NASDAQ:CDXC) Rating Increased to Strong-Buy at StockNews.com

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

A number of other brokerages also recently weighed in on CDXC. Roth Mkm upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. HC Wainwright lifted 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.

ChromaDex Trading Up 2.6 %

Shares of NASDAQ CDXC opened at $5.44 on Wednesday. The company has a market capitalization of $415.52 million, a price-to-earnings ratio of 544.54 and a beta of 2.15. ChromaDex has a twelve month low of $1.36 and a twelve month high of $7.97. The business has a 50 day simple moving average of $5.97 and a 200-day simple moving average of $4.13.

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

Insider Activity at ChromaDex

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BSW Wealth Partners bought a new stake in ChromaDex during the third quarter worth $324,000. WINTON GROUP Ltd acquired a new stake in ChromaDex during the second quarter worth approximately $597,000. The Manufacturers Life Insurance Company increased its stake in ChromaDex by 75.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,732 shares of the company’s stock worth $72,000 after acquiring an additional 8,485 shares during the period. Marshall Wace LLP acquired a new position in shares of ChromaDex in the 2nd quarter valued at approximately $56,000. Finally, FMR LLC bought a new stake in ChromaDex during the third quarter worth $55,000. 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.