Short Interest in ChromaDex Co. (NASDAQ:CDXC) Rises By 27.4%

ChromaDex Co. (NASDAQ:CDXCGet Rating) saw a large growth in short interest during 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. Approximately 8.9% of the company’s shares are sold short. Based on an average daily volume of 448,700 shares, the days-to-cover ratio is currently 7.7 days.

CDXC has been the topic of several recent analyst reports. B. Riley decreased their target price on shares of ChromaDex from $8.00 to $6.00 in a report on Friday, May 13th. StockNews.com started coverage on shares of ChromaDex in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Roth Capital started coverage on shares of ChromaDex in a report on Tuesday, March 8th. They issued a “buy” rating and a $7.00 price objective on the stock. Oppenheimer decreased their price objective on shares of ChromaDex to $7.00 and set a “na” rating on the stock in a report on Tuesday. Finally, Zacks Investment Research lowered shares of ChromaDex from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.05.

Shares of CDXC opened at $1.83 on Wednesday. ChromaDex has a fifty-two week low of $1.51 and a fifty-two week high of $10.78. The firm’s 50 day moving average price is $2.17 and its 200 day moving average price is $3.27.

ChromaDex (NASDAQ:CDXCGet Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned ($0.12) EPS. On average, research analysts forecast that ChromaDex will post -0.26 earnings per share for the current fiscal year.

In other news, CEO Robert N. Fried bought 25,000 shares of the firm’s stock in a transaction on Wednesday, March 16th. The shares were bought at an average cost of $2.16 per share, for a total transaction of $54,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.84% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CDXC. Citigroup Inc. increased its position in shares of ChromaDex by 66.8% in the 3rd quarter. Citigroup Inc. now owns 5,339 shares of the company’s stock valued at $33,000 after purchasing an additional 2,139 shares during the last quarter. Royal Bank of Canada increased its position in shares of ChromaDex by 70.8% in the 3rd quarter. Royal Bank of Canada now owns 5,482 shares of the company’s stock valued at $35,000 after purchasing an additional 2,273 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of ChromaDex by 4,922.7% in the 3rd quarter. Advisor Group Holdings Inc. now owns 7,735 shares of the company’s stock valued at $49,000 after purchasing an additional 7,581 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of ChromaDex by 373.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,771 shares of the company’s stock valued at $55,000 after purchasing an additional 6,920 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of ChromaDex in the 4th quarter valued at approximately $38,000. 29.64% of the stock is currently owned by hedge funds and other institutional investors.

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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