Chromadex Corp (NASDAQ:CDXC) Receives Consensus Recommendation of “Buy” from Brokerages

Chromadex Corp (NASDAQ:CDXC) has earned a consensus rating of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.50.

Several equities research analysts have weighed in on the company. ValuEngine cut Chromadex from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Oppenheimer initiated coverage on shares of Chromadex in a research note on Tuesday, October 15th. They set an “outperform” rating and a $6.00 price target for the company. Finally, Zacks Investment Research raised shares of Chromadex from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th.

NASDAQ CDXC opened at $3.56 on Wednesday. Chromadex has a twelve month low of $2.68 and a twelve month high of $4.95. The company has a quick ratio of 2.41, a current ratio of 3.30 and a debt-to-equity ratio of 0.04. The firm has a market cap of $216.86 million, a price-to-earnings ratio of -5.84 and a beta of 1.40. The business has a 50-day moving average price of $3.28 and a 200-day moving average price of $3.95.

Chromadex (NASDAQ:CDXC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $12.05 million during the quarter, compared to the consensus estimate of $11.66 million. Chromadex had a negative net margin of 74.55% and a negative return on equity of 137.97%. Research analysts expect that Chromadex will post -0.44 EPS for the current fiscal year.

In other Chromadex news, CEO Robert N. Fried acquired 10,000 shares of Chromadex stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $3.20 per share, with a total value of $32,000.00. Insiders own 11.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Uniplan Investment Counsel Inc. acquired a new stake in shares of Chromadex in the 2nd quarter worth $3,279,000. BlackRock Inc. raised its stake in shares of Chromadex by 15.4% in the second quarter. BlackRock Inc. now owns 2,238,654 shares of the company’s stock worth $10,410,000 after purchasing an additional 298,126 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Chromadex by 377.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,807 shares of the company’s stock worth $208,000 after buying an additional 35,418 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chromadex by 8.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 91,370 shares of the company’s stock worth $425,000 after buying an additional 6,880 shares during the period. Finally, Tieton Capital Management LLC raised its position in Chromadex by 5.1% during the 2nd quarter. Tieton Capital Management LLC now owns 1,322,570 shares of the company’s stock worth $6,150,000 after buying an additional 64,680 shares during the last quarter. Institutional investors and hedge funds own 19.49% of the company’s stock.

About Chromadex

ChromaDex Corporation operates as a nutraceutical company. The company offers Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide (NAD) level used for healthy aging; and Immulina, a spirulina extract and compound, which is used for improving human immune function.

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