ChromaDex (NASDAQ:CDXC) Stock Price Up 5.6% – Here’s What Happened

ChromaDex Co. (NASDAQ:CDXC) shares were up 5.6% on Thursday . The company traded as high as $7.40 and last traded at $7.40. Approximately 333,608 shares traded hands during trading, a decline of 36% from the average daily volume of 524,391 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

CDXC has been the subject of a number of recent research reports. Roth Mkm increased their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com downgraded ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright boosted their price objective on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

ChromaDex Price Performance

The company has a market capitalization of $520.91 million, a PE ratio of 682.68 and a beta of 1.88. The business’s 50 day simple moving average is $4.13 and its 200 day simple moving average is $3.44.

ChromaDex (NASDAQ:CDXC) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) 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 net margin of 1.62% and a return on equity of 4.85%. During the same quarter last year, the firm earned ($0.01) EPS. As a group, analysts anticipate that ChromaDex Co. will post 0.04 EPS for the current year.

Insider Activity

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in ChromaDex in the first quarter valued at approximately $54,000. Acadian Asset Management LLC purchased a new stake in shares of ChromaDex in the 1st quarter valued at $67,000. Lazard Asset Management LLC purchased a new position in ChromaDex during the 1st quarter valued at about $43,000. Perritt Capital Management Inc. acquired a new position in ChromaDex in the 1st quarter valued at about $139,000. Finally, Miracle Mile Advisors LLC purchased a new stake in ChromaDex during the second quarter worth about $27,000. 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.