ChromaDex (NASDAQ:CDXC) Hits New 12-Month High After Analyst Upgrade

ChromaDex Co. (NASDAQ:CDXC) hit a new 52-week high during trading on Wednesday after Roth Mkm raised their price target on the stock from $6.00 to $8.00. Roth Mkm currently has a buy rating on the stock. ChromaDex traded as high as $6.68 and last traded at $6.66, with a volume of 585627 shares trading hands. The stock had previously closed at $6.11.

Separately, HC Wainwright increased their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday.

Insider Activity

In related news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.57, for a total transaction of $82,110.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.64% of the stock is owned by insiders.

Institutional Investors Weigh In On ChromaDex

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of ChromaDex in the first quarter valued at about $54,000. Acadian Asset Management LLC acquired a new stake in ChromaDex during the first quarter worth approximately $67,000. Lazard Asset Management LLC bought a new stake in shares of ChromaDex during the first quarter worth approximately $43,000. Perritt Capital Management Inc. bought a new stake in shares of ChromaDex during the first quarter worth approximately $139,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of ChromaDex in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

ChromaDex Stock Up 14.4 %

The company has a market cap of $530.77 million, a P/E ratio of 699.00 and a beta of 1.88. The stock has a 50 day moving average price of $3.70 and a two-hundred day moving average price of $3.28.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $23.70 million. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. During the same quarter last year, the business earned ($0.01) EPS. Equities analysts anticipate that ChromaDex Co. will post 0.01 EPS for the current year.

About ChromaDex

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.