Short Interest in ChromaDex Co. (NASDAQ:CDXC) Expands By 8.5%

ChromaDex Co. (NASDAQ:CDXC) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,200,000 shares, an increase of 8.5% from the September 15th total of 2,950,000 shares. Approximately 6.7% of the company’s stock are sold short. Based on an average daily volume of 278,300 shares, the short-interest ratio is currently 11.5 days.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of ChromaDex in a research note on Friday, August 9th.

ChromaDex Price Performance

Shares of ChromaDex stock traded down $0.12 on Thursday, reaching $3.44. 195,441 shares of the company traded hands, compared to its average volume of 302,159. The firm has a market capitalization of $259.85 million, a PE ratio of -71.20 and a beta of 1.86. The company has a 50 day moving average of $3.40 and a 200 day moving average of $3.25. ChromaDex has a 52 week low of $1.25 and a 52 week high of $4.65.

Insider Activity

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of ChromaDex 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 SEC, which is accessible through this link. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChromaDex

Institutional investors and hedge funds have recently bought and sold shares of the company. Miracle Mile Advisors LLC bought a new position in shares of ChromaDex during the 2nd quarter worth $27,000. The Manufacturers Life Insurance Company bought a new position in ChromaDex during the second quarter worth about $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex during the second quarter worth about $32,000. Lazard Asset Management LLC purchased a new position in shares of ChromaDex in the first quarter worth about $43,000. Finally, SG Americas Securities LLC purchased a new position in shares of ChromaDex in the first quarter worth about $54,000. 15.41% of the stock is owned by institutional investors.

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.