ChromaDex (NASDAQ:CDXC) Cut to “Buy” at StockNews.com

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

A number of other analysts also recently weighed in on CDXC. Roth Mkm increased their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday. HC Wainwright increased their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday.

ChromaDex Price Performance

NASDAQ CDXC traded down $0.27 on Friday, reaching $6.50. The company had a trading volume of 977,782 shares, compared to its average volume of 510,949. The firm has a market cap of $496.47 million, a price-to-earnings ratio of 650.65 and a beta of 1.88. ChromaDex has a fifty-two week low of $1.32 and a fifty-two week high of $7.08. The business has a 50 day moving average of $3.83 and a two-hundred day moving average of $3.33.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The business had revenue of $25.58 million during the quarter, compared to the consensus estimate of $23.70 million. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, research analysts predict that ChromaDex will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at ChromaDex

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its position in shares of ChromaDex by 5.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after purchasing an additional 3,097 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in ChromaDex in the 2nd quarter valued at about $27,000. The Manufacturers Life Insurance Company bought a new position in ChromaDex in the 2nd quarter valued at about $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex in the 2nd quarter valued at about $32,000. Finally, Lazard Asset Management LLC bought a new position in ChromaDex in the 1st quarter valued at about $43,000. Institutional investors 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.