ChromaDex (NASDAQ:CDXC) Raised to Strong-Buy at StockNews.com

ChromaDex (NASDAQ:CDXC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other equities analysts have also commented on CDXC. HC Wainwright upped their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Roth Mkm increased their target price on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

ChromaDex Trading Down 1.8 %

Shares of ChromaDex stock traded down $0.12 during trading hours on Monday, reaching $6.60. The stock had a trading volume of 585,929 shares, compared to its average volume of 549,717. The stock’s 50 day moving average is $5.42 and its 200 day moving average is $3.89. The firm has a market capitalization of $504.11 million, a PE ratio of 660.66 and a beta of 2.15. ChromaDex has a twelve month low of $1.32 and a twelve month high of $7.97.

ChromaDex (NASDAQ:CDXC) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. The firm had revenue of $25.58 million during the quarter, compared to the consensus estimate of $23.70 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. As a group, sell-side analysts predict that ChromaDex will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On ChromaDex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Miracle Mile Advisors LLC purchased a new position in shares of ChromaDex in the 2nd quarter valued at $27,000. The Manufacturers Life Insurance Company purchased a new position in shares of ChromaDex in the 2nd quarter valued at $31,000. Merriman Wealth Management LLC purchased a new position in shares of ChromaDex in the 2nd quarter valued at $32,000. FMR LLC purchased a new position in shares of ChromaDex in the 3rd quarter valued at $55,000. Finally, Marshall Wace LLP purchased a new position in shares of ChromaDex in the 2nd quarter valued at $56,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.

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.