Short Interest in ChromaDex Co. (NASDAQ:CDXC) Decreases By 12.2%

ChromaDex Co. (NASDAQ:CDXC) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 2,600,000 shares, a decrease of 12.2% from the October 15th total of 2,960,000 shares. Approximately 5.4% of the company’s stock are short sold. Based on an average trading volume of 993,800 shares, the short-interest ratio is currently 2.6 days.

ChromaDex Trading Down 5.3 %

CDXC traded down $0.38 during trading on Friday, reaching $6.82. 1,037,216 shares of the company were exchanged, compared to its average volume of 528,953. ChromaDex has a 52 week low of $1.32 and a 52 week high of $7.58. The firm has a 50 day moving average of $4.20 and a 200 day moving average of $3.46. 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 released its quarterly earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter. The business had revenue of $25.58 million during the quarter, compared to analyst estimates of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. As a group, analysts forecast that ChromaDex will post 0.04 earnings per share for the current fiscal year.

Insider Activity at ChromaDex

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 SEC, which is available at this link. 9.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ChromaDex

Large investors have recently made changes to their positions in the company. Miracle Mile Advisors LLC bought a new stake in shares of ChromaDex during the second quarter valued at about $27,000. The Manufacturers Life Insurance Company acquired a new position in ChromaDex during the 2nd quarter valued at about $31,000. Merriman Wealth Management LLC bought a new stake in shares of ChromaDex during the 2nd quarter worth about $32,000. Lazard Asset Management LLC acquired a new stake in shares of ChromaDex in the 1st quarter worth approximately $43,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ChromaDex in the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CDXC. Roth Mkm upped their price target on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright boosted their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

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.