ChromaDex Co. (NASDAQ:CDXC) Short Interest Down 12.2% in October

ChromaDex Co. (NASDAQ:CDXC) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,600,000 shares, a decrease of 12.2% from the October 15th total of 2,960,000 shares. Based on an average daily volume of 993,800 shares, the short-interest ratio is presently 2.6 days. Approximately 5.4% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CDXC shares. StockNews.com cut shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. HC Wainwright lifted their target price on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Roth Mkm increased 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 Wednesday, November 6th.

Insider Buying and Selling at ChromaDex

In other news, Director Kristin Patrick sold 23,000 shares of the business’s stock in a transaction that occurred 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 SEC, which is available through the SEC website. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChromaDex

Institutional investors and hedge funds have recently made changes to their positions in the business. Miracle Mile Advisors LLC purchased a new stake in shares of ChromaDex in the 2nd quarter worth approximately $27,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ChromaDex in the second quarter worth $31,000. Merriman Wealth Management LLC bought a new position in shares of ChromaDex during the second quarter valued at $32,000. Lazard Asset Management LLC purchased a new position in shares of ChromaDex in the 1st quarter worth about $43,000. Finally, SG Americas Securities LLC bought a new position in ChromaDex in the 1st quarter worth about $54,000. Institutional investors own 15.41% of the company’s stock.

ChromaDex Trading Up 5.6 %

CDXC traded up $0.38 during trading on Monday, reaching $7.20. The stock had a trading volume of 1,093,477 shares, compared to its average volume of 531,489. The company has a market capitalization of $549.96 million, a price-to-earnings ratio of 679.00 and a beta of 1.88. The stock’s 50 day moving average is $4.20 and its two-hundred day moving average is $3.46. ChromaDex has a one year low of $1.32 and a one year high of $7.58.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. The company had revenue of $25.58 million during the quarter, compared to analyst estimates of $23.70 million. During the same period last year, the business earned ($0.01) EPS. On average, equities research analysts predict that ChromaDex will post 0.04 earnings per share for the current year.

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.