Short Interest in ChromaDex Co. (NASDAQ:CDXC) Decreases By 5.4%

ChromaDex Co. (NASDAQ:CDXC) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,950,000 shares, a drop of 5.4% from the August 31st total of 3,120,000 shares. Based on an average daily volume of 387,800 shares, the days-to-cover ratio is currently 7.6 days. Approximately 6.2% of the company’s shares are short sold.

ChromaDex Trading Down 2.5 %

NASDAQ:CDXC opened at $3.56 on Wednesday. ChromaDex has a 1 year low of $1.25 and a 1 year high of $4.65. The stock has a market cap of $268.92 million, a price-to-earnings ratio of -71.20 and a beta of 1.86. The stock has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $3.24.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CDXC. SG Americas Securities LLC acquired a new position in shares of ChromaDex during the first quarter worth about $54,000. Acadian Asset Management LLC acquired a new position in shares of ChromaDex during the first quarter worth about $67,000. Lazard Asset Management LLC acquired a new position in shares of ChromaDex during the first quarter worth about $43,000. Perritt Capital Management Inc. acquired a new position in shares of ChromaDex during the first quarter worth about $139,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of ChromaDex during the second quarter worth about $27,000. 15.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CDXC shares. Roth Mkm reissued a “buy” rating and issued a $6.00 target price on shares of ChromaDex in a research note on Wednesday, June 12th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of ChromaDex in a research note on Friday, August 9th.

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.