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

ChromaDex Co. (NASDAQ:CDXC) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 2,960,000 shares, a decline of 7.5% from the September 30th total of 3,200,000 shares. Based on an average trading volume of 264,700 shares, the short-interest ratio is currently 11.2 days. Approximately 6.2% of the company’s stock are sold short.

ChromaDex Trading Up 1.1 %

NASDAQ CDXC traded up $0.04 during trading on Wednesday, hitting $3.66. 88,676 shares of the company traded hands, compared to its average volume of 296,204. ChromaDex has a 12 month low of $1.28 and a 12 month high of $4.65. The business has a fifty day simple moving average of $3.48 and a 200 day simple moving average of $3.22. The company has a market capitalization of $276.47 million, a P/E ratio of -72.40 and a beta of 1.86.

Insider Transactions at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ChromaDex

Several institutional investors have recently bought and sold shares of the stock. Miracle Mile Advisors LLC bought a new position in shares of ChromaDex in the second quarter worth about $27,000. The Manufacturers Life Insurance Company bought a new position in shares of ChromaDex in the second quarter worth about $31,000. Merriman Wealth Management LLC bought a new position in shares of ChromaDex in the second quarter worth about $32,000. Lazard Asset Management LLC bought a new position in shares of ChromaDex in the first quarter worth about $43,000. Finally, SG Americas Securities LLC bought a new position in shares of ChromaDex in the first quarter worth about $54,000. 15.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of ChromaDex in a report on Friday, August 9th.

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.