ChromaDex (NASDAQ:CDXC) Reaches New 52-Week High – What’s Next?

ChromaDex Co. (NASDAQ:CDXC) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.42 and last traded at $7.24, with a volume of 388322 shares traded. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

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

ChromaDex Stock Performance

The business’s fifty day moving average price is $4.06 and its 200-day moving average price is $3.41. The stock has a market cap of $535.42 million, a PE ratio of 701.70 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last posted its earnings results on Thursday, October 31st. The company reported $0.02 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 in the previous year, the firm posted ($0.01) EPS. Analysts forecast that ChromaDex Co. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at ChromaDex

In other news, Director Kristin Patrick sold 23,000 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ChromaDex

Several institutional investors and hedge funds have recently bought and sold shares of CDXC. Renaissance Technologies LLC raised its stake in shares of ChromaDex by 8.4% in the second quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock worth $1,136,000 after buying an additional 32,400 shares during the period. WINTON GROUP Ltd bought a new stake in ChromaDex during the 2nd quarter worth approximately $597,000. Bank of New York Mellon Corp lifted its holdings in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ChromaDex by 10.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 175,172 shares of the company’s stock worth $639,000 after purchasing an additional 17,115 shares during the period. Finally, BSW Wealth Partners bought a new stake in shares of ChromaDex during the 3rd quarter valued at $324,000. 15.41% of the stock is currently 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.