Short Interest in ChromaDex Co. (NASDAQ:CDXC) Decreases By 5.4%

ChromaDex Co. (NASDAQ:CDXC) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,950,000 shares, a decrease of 5.4% from the August 31st total of 3,120,000 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average trading volume of 387,800 shares, the short-interest ratio is currently 7.6 days.

Insider Buying and Selling

In related news, Director Kristin Patrick sold 23,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.57, for a total transaction of $82,110.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChromaDex

A number of large investors have recently made changes to their positions in CDXC. SG Americas Securities LLC bought a new position in shares of ChromaDex during the first quarter worth approximately $54,000. Acadian Asset Management LLC bought a new position in shares of ChromaDex during the first quarter worth approximately $67,000. Lazard Asset Management LLC bought a new position in shares of ChromaDex during the first quarter worth approximately $43,000. Perritt Capital Management Inc. bought a new position in shares of ChromaDex during the first quarter worth approximately $139,000. Finally, Miracle Mile Advisors LLC bought a new position in shares of ChromaDex during the second quarter worth approximately $27,000. Institutional investors own 15.41% of the company’s stock.

ChromaDex Trading Down 2.5 %

Shares of NASDAQ CDXC opened at $3.56 on Wednesday. The firm has a market cap of $268.92 million, a P/E ratio of -71.20 and a beta of 1.86. ChromaDex has a 1-year low of $1.25 and a 1-year high of $4.65. The business’s 50 day moving average is $3.28 and its 200-day moving average is $3.24.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CDXC shares. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of ChromaDex in a report on Friday, August 9th. Roth Mkm restated a “buy” rating and issued a $6.00 price objective on shares of ChromaDex in a research note on Wednesday, June 12th.

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.