StockNews.com Begins Coverage on ChromaDex (NASDAQ:CDXC)

StockNews.com began coverage on shares of ChromaDex (NASDAQ:CDXC – Get Rating) in a research note published on Thursday. The brokerage issued a buy rating on the stock.

Separately, HC Wainwright dropped their target price on ChromaDex from $5.50 to $5.00 and set a buy rating on the stock in a research report on Monday, March 13th.

ChromaDex Price Performance

Shares of NASDAQ:CDXC opened at $1.58 on Thursday. ChromaDex has a 52-week low of $1.15 and a 52-week high of $2.99. The business’s 50 day moving average is $1.83 and its 200 day moving average is $1.64.

ChromaDex (NASDAQ:CDXC – Get Rating) last announced its earnings results on Wednesday, March 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $21.00 million for the quarter, compared to analysts’ expectations of $21.08 million. ChromaDex had a negative return on equity of 77.39% and a negative net margin of 22.96%. During the same quarter last year, the firm earned ($0.08) EPS. On average, sell-side analysts forecast that ChromaDex will post -0.14 EPS for the current fiscal year.

Institutional Trading of ChromaDex

Several hedge funds and other institutional investors have recently bought and sold shares of CDXC. Millennium Management LLC purchased a new stake in shares of ChromaDex during the 2nd quarter valued at $1,275,000. Tieton Capital Management LLC lifted its holdings in shares of ChromaDex by 20.6% during the 4th quarter. Tieton Capital Management LLC now owns 2,745,024 shares of the company’s stock valued at $4,612,000 after purchasing an additional 469,429 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of ChromaDex by 1,004.0% during the 1st quarter. Renaissance Technologies LLC now owns 420,501 shares of the company’s stock valued at $1,034,000 after purchasing an additional 382,413 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ChromaDex by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 2,781,437 shares of the company’s stock valued at $6,842,000 after purchasing an additional 240,414 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of ChromaDex during the 4th quarter valued at $134,000. Institutional investors own 42.81% of the company’s stock.

ChromaDex Company Profile

(Get Rating)

Chromadex Corp. is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen.