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

ChromaDex Co. (NASDAQ:CDXC) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 1,320,000 shares, an increase of 12.8% from the March 15th total of 1,170,000 shares. Based on an average trading volume of 259,700 shares, the days-to-cover ratio is currently 5.1 days. Approximately 3.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in ChromaDex by 40.7% during the 4th quarter. Royal Bank of Canada now owns 119,042 shares of the company’s stock worth $170,000 after buying an additional 34,448 shares during the period. Gabelli Funds LLC lifted its holdings in ChromaDex by 11.1% during the 4th quarter. Gabelli Funds LLC now owns 200,000 shares of the company’s stock worth $286,000 after buying an additional 20,000 shares during the period. Tieton Capital Management LLC lifted its holdings in ChromaDex by 18.8% during the 4th quarter. Tieton Capital Management LLC now owns 2,913,675 shares of the company’s stock worth $4,167,000 after buying an additional 461,692 shares during the period. International Assets Investment Management LLC lifted its stake in shares of ChromaDex by 43.0% in the 4th quarter. International Assets Investment Management LLC now owns 28,600 shares of the company’s stock valued at $410,000 after purchasing an additional 8,600 shares during the period. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in shares of ChromaDex in the 4th quarter valued at about $118,000. 15.41% of the stock is owned by institutional investors and hedge funds.

ChromaDex Stock Up 0.3 %

CDXC traded up $0.01 during midday trading on Tuesday, hitting $3.94. 249,892 shares of the company were exchanged, compared to its average volume of 253,730. The firm has a market capitalization of $296.72 million, a P/E ratio of -56.28 and a beta of 1.98. ChromaDex has a 1-year low of $1.25 and a 1-year high of $4.65. The firm’s 50 day moving average price is $2.52 and its 200-day moving average price is $1.81.

Analysts Set New Price Targets

Several research firms recently weighed in on CDXC. Roth Mkm raised their price objective on ChromaDex from $4.25 to $6.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. StockNews.com began coverage on ChromaDex in a report on Sunday, March 3rd. They set a “strong-buy” rating on the stock.

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.