Roth Mkm Forecasts Strong Price Appreciation for ChromaDex (NASDAQ:CDXC) Stock

ChromaDex (NASDAQ:CDXC) had its price target boosted by Roth Mkm from $6.00 to $8.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright boosted their price target on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday.

ChromaDex Stock Performance

ChromaDex stock opened at $7.02 on Wednesday. The company has a market capitalization of $533.05 million, a price-to-earnings ratio of 699.00 and a beta of 1.88. The company’s 50 day simple moving average is $3.70 and its 200-day simple moving average is $3.28. ChromaDex has a 1 year low of $1.32 and a 1 year high of $7.08.

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

Insider Transactions at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Several hedge funds and other institutional investors have recently made changes to their positions in CDXC. BSW Wealth Partners acquired a new stake in ChromaDex in the third quarter valued at approximately $324,000. WINTON GROUP Ltd acquired a new position in shares of ChromaDex during the second quarter worth $597,000. SG Americas Securities LLC purchased a new position in ChromaDex in the first quarter valued at $54,000. Marshall Wace LLP purchased a new stake in ChromaDex during the 2nd quarter worth about $56,000. Finally, Lazard Asset Management LLC purchased a new position in shares of ChromaDex in the 1st quarter valued at about $43,000. Hedge funds and other 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.