ChromaDex (NASDAQ:CDXC) Sets New 1-Year High – Here’s What Happened

Shares of ChromaDex Co. (NASDAQ:CDXC) reached a new 52-week high on Tuesday . The company traded as high as $7.58 and last traded at $7.50, with a volume of 586086 shares changing hands. The stock had previously closed at $7.27.

Analyst Upgrades and Downgrades

CDXC has been the subject of several recent research reports. StockNews.com downgraded ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Monday. HC Wainwright upped their target price on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Roth Mkm raised their price target on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Stock Performance

The stock’s 50 day moving average is $4.28 and its 200 day moving average is $3.48. The company has a market capitalization of $574.38 million, a PE ratio of 752.75 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. The business 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 in the prior year, the firm posted ($0.01) EPS. On average, equities research analysts forecast that ChromaDex Co. will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Kristin Patrick sold 23,000 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Several hedge funds have recently made changes to their positions in CDXC. Barclays PLC lifted its position in ChromaDex by 322.1% during the third quarter. Barclays PLC now owns 70,072 shares of the company’s stock valued at $256,000 after buying an additional 53,472 shares during the period. Geode Capital Management LLC raised its stake in shares of ChromaDex by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock worth $4,197,000 after purchasing an additional 17,963 shares during the last quarter. Jane Street Group LLC raised its position in ChromaDex by 100.3% in the 3rd quarter. Jane Street Group LLC now owns 45,712 shares of the company’s stock worth $167,000 after buying an additional 22,889 shares during the last quarter. State Street Corp lifted its position in ChromaDex by 11.3% during the third quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after purchasing an additional 62,692 shares during the period. Finally, MetLife Investment Management LLC increased its position in ChromaDex by 39.3% during the third quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock valued at $66,000 after acquiring an additional 5,115 shares during the last quarter. 15.41% of the stock is owned by hedge funds and other institutional investors.

ChromaDex Company Profile

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.