ChromaDex (NASDAQ:CDXC) Upgraded by StockNews.com to Strong-Buy

ChromaDex (NASDAQ:CDXC – Get Rating) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

CDXC has been the topic of several other reports. LADENBURG THALM/SH SH cut their target price on ChromaDex from $7.50 to $6.60 in a report on Thursday, May 11th. HC Wainwright cut their target price on ChromaDex from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 13th.

ChromaDex Stock Down 1.0 %

NASDAQ CDXC opened at $1.51 on Wednesday. ChromaDex has a twelve month low of $1.15 and a twelve month high of $2.37. The company has a market cap of $112.82 million, a price-to-earnings ratio of -10.03 and a beta of 1.79. The business’s fifty day moving average is $1.47 and its 200 day moving average is $1.66.

ChromaDex (NASDAQ:CDXC – Get Rating) last announced its earnings results on Wednesday, March 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $21.00 million for the quarter, compared to the consensus estimate of $21.08 million. ChromaDex had a negative return on equity of 51.99% and a negative net margin of 13.84%. During the same period in the previous year, the business earned ($0.08) EPS. On average, research analysts anticipate that ChromaDex will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of ChromaDex by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 2,781,437 shares of the company’s stock worth $6,842,000 after acquiring an additional 240,414 shares in the last quarter. Tieton Capital Management LLC raised its position in shares of ChromaDex by 20.6% in the 4th quarter. Tieton Capital Management LLC now owns 2,745,024 shares of the company’s stock worth $4,612,000 after acquiring an additional 469,429 shares in the last quarter. State Street Corp raised its position in shares of ChromaDex by 4.1% in the 1st quarter. State Street Corp now owns 932,526 shares of the company’s stock worth $2,294,000 after acquiring an additional 36,308 shares in the last quarter. Millennium Management LLC bought a new position in shares of ChromaDex in the 2nd quarter worth about $1,275,000. Finally, Renaissance Technologies LLC raised its position in shares of ChromaDex by 76.0% in the 2nd quarter. Renaissance Technologies LLC now owns 739,900 shares of the company’s stock worth $1,236,000 after acquiring an additional 319,399 shares in the last quarter. 42.81% of the stock is owned by institutional investors.

ChromaDex Company Profile

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Chromadex Corp. is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen.