ChromaDex Co. (NASDAQ:CDXC) Sees Significant Growth in Short Interest

ChromaDex Co. (NASDAQ:CDXCGet Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 3,440,000 shares, a growth of 27.4% from the April 15th total of 2,700,000 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average daily trading volume, of 448,700 shares, the days-to-cover ratio is presently 7.7 days.

Several equities analysts recently commented on CDXC shares. Roth Capital began coverage on ChromaDex in a report on Tuesday, March 8th. They issued a “buy” rating and a $7.00 target price on the stock. HC Wainwright decreased 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. B. Riley lowered their price target on ChromaDex from $8.00 to $6.00 in a report on Friday. StockNews.com initiated coverage on shares of ChromaDex in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of ChromaDex from a “hold” rating to a “sell” rating in a research report on Monday, May 2nd. 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 has an average rating of “Hold” and an average target price of $7.06.

In related news, CEO Robert N. Fried acquired 25,000 shares of the stock in a transaction dated Wednesday, March 16th. The stock was acquired at an average cost of $2.16 per share, with a total value of $54,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.84% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Merriman Wealth Management LLC purchased a new stake in shares of ChromaDex in the first quarter valued at about $29,000. Citigroup Inc. increased its position in ChromaDex by 66.8% during the 3rd 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 stake in shares of ChromaDex by 70.8% during the 3rd quarter. Royal Bank of Canada now owns 5,482 shares of the company’s stock worth $35,000 after buying an additional 2,273 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of ChromaDex in the 4th quarter valued at approximately $38,000. Finally, ProShare Advisors LLC acquired a new stake in shares of ChromaDex in the 4th quarter valued at approximately $38,000. Institutional investors own 29.64% of the company’s stock.

Shares of CDXC traded up $0.13 during mid-day trading on Tuesday, hitting $1.72. 6,971 shares of the company’s stock were exchanged, compared to its average volume of 470,183. ChromaDex has a fifty-two week low of $1.51 and a fifty-two week high of $10.78. The business’s 50 day moving average is $2.19 and its two-hundred day moving average is $3.28. The firm has a market capitalization of $117.53 million, a P/E ratio of -3.98 and a beta of 1.79.

ChromaDex (NASDAQ:CDXCGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). ChromaDex had a negative return on equity of 81.32% and a negative net margin of 39.25%. During the same period last year, the firm earned ($0.12) EPS. On average, analysts expect that ChromaDex will post -0.26 earnings per share for the current year.

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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