ChromaDex (NASDAQ:CDXC) Reaches New 12-Month High – Time to Buy?

ChromaDex Co. (NASDAQ:CDXC) hit a new 52-week high on Tuesday . The company traded as high as $7.42 and last traded at $7.24, with a volume of 388322 shares changing hands. The stock had previously closed at $7.01.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. HC Wainwright upped their target price on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Roth Mkm increased their target price on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th.

ChromaDex Price Performance

The firm’s 50 day moving average is $4.06 and its 200 day moving average is $3.41. The company has a market capitalization of $535.42 million, a PE ratio of 701.70 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) 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 net margin of 1.62% and a return on equity of 4.85%. During the same quarter in the previous year, the company earned ($0.01) earnings per share. As a group, analysts predict that ChromaDex Co. will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.57, for a total value of $82,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Institutional investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC purchased a new stake in shares of ChromaDex in the 2nd quarter worth about $27,000. The Manufacturers Life Insurance Company purchased a new stake in ChromaDex in the second quarter worth about $31,000. Merriman Wealth Management LLC bought a new position in shares of ChromaDex during the second quarter valued at approximately $32,000. Lazard Asset Management LLC purchased a new position in shares of ChromaDex during the first quarter valued at approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in shares of ChromaDex in the 1st quarter worth approximately $54,000. 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.