ChromaDex Co. (NASDAQ:CDXC) Short Interest Update

ChromaDex Co. (NASDAQ:CDXC) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 2,600,000 shares, a decline of 12.2% from the October 15th total of 2,960,000 shares. Based on an average daily volume of 993,800 shares, the days-to-cover ratio is presently 2.6 days. Approximately 5.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

CDXC has been the topic of a number of analyst reports. Roth Mkm increased their target price on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright upped their target price on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, November 4th.

ChromaDex Stock Down 5.3 %

Shares of CDXC stock traded down $0.38 on Friday, reaching $6.82. 1,037,216 shares of the stock were exchanged, compared to its average volume of 528,953. The firm has a 50 day moving average of $4.20 and a two-hundred day moving average of $3.46. ChromaDex has a 1-year low of $1.32 and a 1-year high of $7.58. The stock has a market cap of $520.91 million, a P/E ratio of 682.68 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last issued its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. The business had revenue of $25.58 million during the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter in the previous year, the business earned ($0.01) EPS. On average, equities research analysts predict that ChromaDex will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.57, for a total transaction of $82,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChromaDex

Several institutional investors and hedge funds have recently modified their holdings of CDXC. WINTON GROUP Ltd purchased a new position in ChromaDex in the 2nd quarter worth approximately $597,000. Bank of New York Mellon Corp increased its position in shares of ChromaDex by 170.0% during the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock worth $520,000 after acquiring an additional 119,915 shares during the last quarter. BSW Wealth Partners purchased a new stake in shares of ChromaDex during the third quarter worth about $324,000. BNP Paribas Financial Markets lifted its stake in shares of ChromaDex by 1,885.7% in the third quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company’s stock worth $267,000 after acquiring an additional 69,582 shares in the last quarter. Finally, State Street Corp boosted its holdings in ChromaDex by 11.3% in 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 last quarter. Hedge funds and other institutional investors own 15.41% of the company’s stock.

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.