ChromaDex (NASDAQ:CDXC) Downgraded by Zacks Investment Research to Sell

ChromaDex (NASDAQ:CDXCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “ChromaDex Corporation and its subsidiaries supply phytochemical reference standards and reference materials, related contract services, and products for the dietary supplement, nutraceutical, food and beverage, functional food, pharmaceutical and cosmetic markets. ChromaDex’s core business strategy is to use the intellectual property harnessed by its expertise in the area of natural products and in the creation of reference materials to the industry as the basis for providing new and alternative, green, mass marketable products to its customers. The Company’s main priority is to create industry-accepted information, and to provide products and services to every layer of the functional food, pharmaceutical, personal care and dietary supplement markets. The company markets and sells its products in the United States and Canada. It offers its products through distributors in Europe, South America, Korea, India, Japan, Australia, New Zealand, China, Indonesia, Malaysia, Singapore, Thailand, and Mexico. “

Several other research analysts also recently commented on the company. HC Wainwright lowered their target price on ChromaDex from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 18th. StockNews.com initiated coverage on ChromaDex in a report on Thursday, March 31st. They set a “hold” rating on the stock. B. Riley reduced their price target on ChromaDex from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 10th. Finally, Roth Capital began coverage on ChromaDex in a report on Tuesday, March 8th. They set a “buy” rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.56.

CDXC stock traded down $0.08 during midday trading on Tuesday, reaching $1.90. The company had a trading volume of 493,760 shares, compared to its average volume of 472,111. The company has a market capitalization of $129.79 million, a price-to-earnings ratio of -4.63 and a beta of 1.72. ChromaDex has a 1-year low of $1.89 and a 1-year high of $10.78. The stock has a 50 day moving average price of $2.45 and a 200-day moving average price of $3.76.

ChromaDex (NASDAQ:CDXCGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $17.76 million during the quarter, compared to the consensus estimate of $18.42 million. ChromaDex had a negative return on equity of 70.85% and a negative net margin of 40.22%. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Research analysts anticipate that ChromaDex will post -0.26 EPS for the current year.

In related news, CEO Robert N. Fried bought 25,000 shares of ChromaDex stock in a transaction that occurred on Wednesday, March 16th. The shares were acquired at an average cost of $2.16 per share, for a total transaction of $54,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.84% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Uniplan Investment Counsel Inc. boosted its holdings in shares of ChromaDex by 0.3% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 681,002 shares of the company’s stock worth $4,269,000 after buying an additional 1,737 shares in the last quarter. Citigroup Inc. raised its position in shares of ChromaDex by 66.8% during the third quarter. Citigroup Inc. now owns 5,339 shares of the company’s stock worth $33,000 after purchasing an additional 2,139 shares during the period. Royal Bank of Canada raised its position in shares of ChromaDex by 70.8% during the third quarter. Royal Bank of Canada now owns 5,482 shares of the company’s stock worth $35,000 after purchasing an additional 2,273 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of ChromaDex by 45.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 12,776 shares of the company’s stock worth $48,000 after purchasing an additional 4,005 shares during the period. Finally, Invesco Ltd. raised its position in shares of ChromaDex by 32.6% during the third quarter. Invesco Ltd. now owns 16,647 shares of the company’s stock worth $104,000 after purchasing an additional 4,094 shares during the period. Hedge funds and other institutional investors own 40.02% of the company’s stock.

ChromaDex Company Profile (Get Rating)

ChromaDex Corporation operates as a bioscience company focusing on healthy aging. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches on nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers, as well as to distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.

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