ChromaDex (NASDAQ:CDXC) Trading Up 5.6% – Time to Buy?

ChromaDex Co. (NASDAQ:CDXC) shares shot up 5.6% on Thursday . The stock traded as high as $7.40 and last traded at $7.40. 333,608 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 524,391 shares. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CDXC. Roth Mkm upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. HC Wainwright upped their price target on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

ChromaDex Trading Up 2.7 %

The firm’s 50-day moving average price is $4.06 and its two-hundred day moving average price is $3.41. The stock has a market cap of $549.94 million, a PE ratio of 709.71 and a beta of 1.88.

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

Insider Activity at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CDXC. WINTON GROUP Ltd acquired a new position in ChromaDex during the 2nd quarter valued at approximately $597,000. Bank of New York Mellon Corp increased its stake in ChromaDex by 170.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock valued at $520,000 after purchasing an additional 119,915 shares in the last quarter. BSW Wealth Partners acquired a new position in ChromaDex during the 3rd quarter valued at approximately $324,000. BNP Paribas Financial Markets increased its stake in ChromaDex by 1,885.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company’s stock valued at $267,000 after purchasing an additional 69,582 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of ChromaDex in the second quarter worth $124,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

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.