ChromaDex (NASDAQ:CDXC) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

ChromaDex (NASDAQ:CDXC – Get Rating) posted its earnings results on Thursday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02), Fidelity Earnings reports. ChromaDex had a negative return on equity of 70.85% and a negative net margin of 40.22%. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. ChromaDex updated its FY 2022 guidance to EPS.

NASDAQ:CDXC traded up $0.05 on Friday, reaching $1.69. 528,822 shares of the stock traded hands, compared to its average volume of 443,491. The firm has a market capitalization of $115.48 million, a price-to-earnings ratio of -4.23 and a beta of 1.79. ChromaDex has a 1-year low of $1.51 and a 1-year high of $10.78. The company’s 50 day moving average is $2.21 and its 200-day moving average is $3.35.

In other ChromaDex news, CEO Robert N. Fried purchased 25,000 shares of the stock in a transaction dated Wednesday, March 16th. The shares were purchased at an average cost of $2.16 per share, with a total value of $54,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.84% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of ChromaDex by 1,004.0% during the first quarter. Renaissance Technologies LLC now owns 420,501 shares of the company’s stock worth $1,034,000 after purchasing an additional 382,413 shares in the last quarter. Vanguard Group Inc. grew its position in shares of ChromaDex by 9.5% during the first quarter. Vanguard Group Inc. now owns 2,781,437 shares of the company’s stock worth $6,842,000 after purchasing an additional 240,414 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of ChromaDex by 22.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 431,126 shares of the company’s stock worth $1,613,000 after purchasing an additional 78,834 shares in the last quarter. Millennium Management LLC grew its position in shares of ChromaDex by 47.6% during the fourth quarter. Millennium Management LLC now owns 225,920 shares of the company’s stock worth $845,000 after purchasing an additional 72,852 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of ChromaDex by 1.6% during the fourth quarter. BlackRock Inc. now owns 3,195,064 shares of the company’s stock worth $11,950,000 after purchasing an additional 51,383 shares in the last quarter. 29.64% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on the stock. HC Wainwright dropped their target price on shares of ChromaDex from $12.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 18th. B. Riley dropped their price objective on shares of ChromaDex from $8.00 to $6.00 in a report on Friday. Roth Capital initiated coverage on shares of ChromaDex in a report on Tuesday, March 8th. They issued a “buy” rating and a $7.00 price objective for the company. StockNews.com initiated coverage on shares of ChromaDex in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered shares of ChromaDex from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.06.

ChromaDex Company Profile (Get Rating)

ChromaDex Corporation operates as a bioscience company focusing on healthy aging. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches on nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers, as well as to distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.

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