ChromaDex (NASDAQ:CDXC) Stock Rating Upgraded by StockNews.com

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

Several other brokerages also recently weighed in on CDXC. LADENBURG THALM/SH SH lowered their price target on shares of ChromaDex from $7.50 to $6.60 in a report on Thursday, May 11th. HC Wainwright cut their price objective on shares of ChromaDex from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 13th.

ChromaDex Stock Down 4.7 %

Shares of CDXC stock opened at $1.43 on Wednesday. The company has a 50 day moving average price of $1.47 and a 200-day moving average price of $1.66. ChromaDex has a 52 week low of $1.15 and a 52 week high of $2.37. The firm has a market capitalization of $107.21 million, a PE ratio of -9.53 and a beta of 1.79.

ChromaDex (NASDAQ:CDXC – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $21.00 million for the quarter, compared to the consensus estimate of $21.08 million. ChromaDex had a negative net margin of 13.84% and a negative return on equity of 51.99%. During the same quarter last year, the firm posted ($0.08) earnings per share. Analysts anticipate that ChromaDex will post -0.13 earnings per share for the current year.

Institutional Trading of ChromaDex

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of ChromaDex by 9.5% during the first quarter. Vanguard Group Inc. now owns 2,781,437 shares of the company’s stock valued at $6,842,000 after buying an additional 240,414 shares during the last quarter. Tieton Capital Management LLC grew its stake in shares of ChromaDex by 20.6% during the 4th quarter. Tieton Capital Management LLC now owns 2,745,024 shares of the company’s stock worth $4,612,000 after purchasing an additional 469,429 shares during the period. State Street Corp grew its stake in shares of ChromaDex by 4.1% during the 1st quarter. State Street Corp now owns 932,526 shares of the company’s stock worth $2,294,000 after purchasing an additional 36,308 shares during the period. Millennium Management LLC acquired a new stake in shares of ChromaDex during the 2nd quarter worth approximately $1,275,000. Finally, Renaissance Technologies LLC lifted its position in shares of ChromaDex by 76.0% during the 2nd quarter. Renaissance Technologies LLC now owns 739,900 shares of the company’s stock valued at $1,236,000 after buying an additional 319,399 shares in the last quarter. 42.81% of the stock is owned by hedge funds and other 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.