ChromaDex (NASDAQ:CDXC) Hits New 12-Month High Following Analyst Upgrade

ChromaDex Co. (NASDAQ:CDXC)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Roth Mkm raised their price target on the stock from $6.00 to $8.00. Roth Mkm currently has a buy rating on the stock. ChromaDex traded as high as $6.68 and last traded at $6.66, with a volume of 585627 shares traded. The stock had previously closed at $6.11.

Separately, HC Wainwright increased 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.

Insiders Place Their Bets

In other news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ChromaDex

Several large investors have recently made changes to their positions in CDXC. Renaissance Technologies LLC raised its holdings in shares of ChromaDex by 8.4% in the 2nd quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock worth $1,136,000 after purchasing an additional 32,400 shares in the last quarter. WINTON GROUP Ltd acquired a new position in ChromaDex in the second quarter worth approximately $597,000. Bank of New York Mellon Corp increased its holdings in shares of ChromaDex by 170.0% in the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock valued at $520,000 after buying an additional 119,915 shares in the last quarter. BSW Wealth Partners acquired a new stake in shares of ChromaDex during the 3rd quarter valued at $324,000. Finally, OneDigital Investment Advisors LLC boosted its stake in shares of ChromaDex by 5.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after acquiring an additional 3,097 shares in the last quarter. Institutional investors own 15.41% of the company’s stock.

ChromaDex Trading Down 3.1 %

The stock has a fifty day moving average of $3.77 and a 200-day moving average of $3.31. The firm has a market capitalization of $517.09 million, a price-to-earnings ratio of 677.68 and a beta of 1.88.

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

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.