ChromaDex (NASDAQ:CDXC) Trading Down 5.5% – Time to Sell?

Shares of ChromaDex Co. (NASDAQ:CDXC) dropped 5.5% on Friday . The company traded as low as $7.15 and last traded at $7.21. Approximately 374,121 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 537,406 shares. The stock had previously closed at $7.63.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CDXC. HC Wainwright upped their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com cut ChromaDex from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Roth Mkm lifted their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th.

ChromaDex Stock Down 2.6 %

The stock has a market capitalization of $567.53 million, a P/E ratio of 718.00 and a beta of 1.88. The company has a fifty day simple moving average of $4.53 and a two-hundred day simple moving average of $3.56.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. OneDigital Investment Advisors LLC raised 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 acquiring an additional 3,097 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of ChromaDex by 39.3% during the 3rd quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock worth $66,000 after purchasing an additional 5,115 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 purchasing an additional 8,485 shares during the period. Miracle Mile Advisors LLC acquired a new stake in ChromaDex in the 2nd quarter valued at about $27,000. Finally, The Manufacturers Life Insurance Company bought a new position in ChromaDex during the second quarter worth about $31,000. 15.41% of the stock is owned by institutional investors and hedge funds.

ChromaDex Company Profile

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.