ChromaDex (NASDAQ:CDXC) Reaches New 12-Month High – Here’s Why

ChromaDex Co. (NASDAQ:CDXC) shares hit a new 52-week high on Wednesday . The stock traded as high as $7.89 and last traded at $7.78, with a volume of 174627 shares traded. The stock had previously closed at $7.59.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDXC shares. StockNews.com cut shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 18th. 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 report on Monday, November 4th. Finally, Roth Mkm boosted their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Price Performance

The firm has a market cap of $583.54 million, a P/E ratio of 764.76 and a beta of 1.88. The stock’s 50-day simple moving average is $4.93 and its two-hundred day simple moving average is $3.70.

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 for the quarter, compared to analysts’ expectations of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, sell-side analysts expect that ChromaDex Co. will post 0.04 earnings per share for the current year.

Institutional Trading of ChromaDex

A number of large investors have recently made changes to their positions in CDXC. WINTON GROUP Ltd purchased a new stake in shares of ChromaDex during the second quarter valued at $597,000. Bank of New York Mellon Corp boosted its stake in shares of ChromaDex by 170.0% during 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 purchased a new stake in shares of ChromaDex during the third quarter valued at $324,000. BNP Paribas Financial Markets boosted its stake in shares of ChromaDex by 1,885.7% during 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 ChromaDex by 11.3% in the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after acquiring an additional 62,692 shares during the period. 15.41% of the stock is owned by hedge funds and other institutional investors.

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.