ChromaDex (NASDAQ:CDXC) Trading Down 5.6% – What’s Next?

ChromaDex Co. (NASDAQ:CDXC)’s stock price traded down 5.6% on Thursday . The stock traded as low as $7.47 and last traded at $7.39. 62,790 shares were traded during trading, a decline of 93% from the average session volume of 867,001 shares. The stock had previously closed at $7.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 6th. LADENBURG THALM/SH SH boosted their price target on shares of ChromaDex from $6.80 to $8.10 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, HC Wainwright boosted their price target on shares of ChromaDex from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, March 10th.

ChromaDex Price Performance

The firm has a market cap of $609.56 million, a PE ratio of 784.78 and a beta of 2.21. The stock’s fifty day moving average price is $6.01 and its 200-day moving average price is $5.33.

Institutional Investors Weigh In On ChromaDex

Large investors have recently modified their holdings of the business. D. E. Shaw & Co. Inc. boosted its position in shares of ChromaDex by 1,785.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock valued at $5,365,000 after acquiring an additional 957,665 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of ChromaDex by 288.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock valued at $3,517,000 after acquiring an additional 492,148 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ChromaDex by 189.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company’s stock valued at $2,685,000 after acquiring an additional 331,014 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ChromaDex during the 4th quarter valued at about $1,647,000. Finally, Renaissance Technologies LLC boosted its position in shares of ChromaDex by 68.0% during the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock valued at $3,781,000 after acquiring an additional 288,588 shares during the last quarter. Hedge funds and other institutional investors own 15.41% of the company’s 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.