ChromaDex (NASDAQ:CDXC) Shares Down 5.5% – What’s Next?

ChromaDex Co. (NASDAQ:CDXC) dropped 5.5% on Friday . The stock traded as low as $7.15 and last traded at $7.21. Approximately 374,121 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 537,406 shares. The stock had previously closed at $7.63.

Analyst Ratings Changes

A number of research firms recently issued reports on CDXC. StockNews.com downgraded shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 18th. Roth Mkm raised 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 Wednesday, November 6th. Finally, HC Wainwright upped 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.

ChromaDex Trading Down 2.5 %

The stock has a market capitalization of $568.27 million, a price-to-earnings ratio of 744.74 and a beta of 1.88. The firm has a 50-day moving average of $4.61 and a 200 day moving average of $3.59.

ChromaDex (NASDAQ:CDXC) last posted its earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. The business had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $23.70 million. During the same period in the previous year, the company posted ($0.01) earnings per share. As a group, research analysts forecast that ChromaDex Co. will post 0.04 EPS for the current year.

Institutional Trading of ChromaDex

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BSW Wealth Partners acquired a new stake in ChromaDex during the 3rd quarter valued at approximately $324,000. WINTON GROUP Ltd acquired a new stake in shares of ChromaDex during the second quarter worth approximately $597,000. SG Americas Securities LLC bought a new stake in shares of ChromaDex in the first quarter worth $54,000. Marshall Wace LLP acquired a new stake in ChromaDex in the second quarter valued at $56,000. Finally, Lazard Asset Management LLC bought a new position in ChromaDex during the 1st quarter valued at $43,000. 15.41% of the stock is owned by hedge funds and other institutional investors.

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.