ChromaDex (NASDAQ:CDXC) Raised to Strong-Buy at StockNews.com

ChromaDex (NASDAQ:CDXC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Several other analysts also recently weighed in on CDXC. HC Wainwright lifted their target price on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, November 4th. Roth Mkm lifted 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.

ChromaDex Stock Performance

ChromaDex stock traded down $0.12 during midday trading on Monday, hitting $6.60. 585,929 shares of the company’s stock were exchanged, compared to its average volume of 549,717. ChromaDex has a 12-month low of $1.32 and a 12-month high of $7.97. The stock has a market cap of $504.11 million, a price-to-earnings ratio of 660.66 and a beta of 2.15. The firm’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $3.89.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $23.70 million. During the same period last year, the firm posted ($0.01) EPS. On average, equities research analysts forecast that ChromaDex will post 0.04 EPS for the current fiscal year.

Institutional Trading of ChromaDex

Several hedge funds and other institutional investors have recently made changes to their positions in CDXC. WINTON GROUP Ltd acquired a new stake in shares of ChromaDex in the second quarter valued at about $597,000. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 119,915 shares during the period. BSW Wealth Partners acquired a new stake in shares of ChromaDex in the third quarter valued at about $324,000. BNP Paribas Financial Markets lifted its stake in shares of ChromaDex by 1,885.7% in the third quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company’s stock valued at $267,000 after purchasing an additional 69,582 shares during the period. Finally, State Street Corp lifted its stake in shares of ChromaDex by 11.3% in the third quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after purchasing an additional 62,692 shares during the period. Institutional investors and hedge funds own 15.41% of the company’s stock.

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.