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

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

Several other research analysts have also recently weighed in on the company. HC Wainwright upped their price objective on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Roth Mkm upped their price target on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Price Performance

NASDAQ:CDXC opened at $5.41 on Tuesday. The business’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $4.06. ChromaDex has a fifty-two week low of $1.36 and a fifty-two week high of $7.97. The stock has a market capitalization of $413.23 million, a PE ratio of 541.54 and a beta of 2.16.

ChromaDex (NASDAQ:CDXC) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share 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 analysts’ expectations of $23.70 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, research analysts expect that ChromaDex will post 0.04 earnings per share for the current year.

Insider Buying and Selling at ChromaDex

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

Institutional Investors Weigh In On ChromaDex

Institutional investors and hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC increased its holdings in ChromaDex by 5.5% during the third quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after buying an additional 3,097 shares during the last quarter. MetLife Investment Management LLC lifted its stake in ChromaDex by 39.3% in the third quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock valued at $66,000 after acquiring an additional 5,115 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ChromaDex by 75.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,732 shares of the company’s stock valued at $72,000 after acquiring an additional 8,485 shares during the period. Merriman Wealth Management LLC acquired a new position in shares of ChromaDex during the 2nd quarter worth about $32,000. Finally, FMR LLC bought a new stake in shares of ChromaDex in the 3rd quarter valued at about $55,000. Institutional investors 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.