ChromaDex (NASDAQ:CDXC) Sees Large Volume Increase – Still a Buy?

ChromaDex Co. (NASDAQ:CDXC) saw strong trading volume on Monday . 656,394 shares were traded during trading, an increase of 24% from the previous session’s volume of 529,529 shares.The stock last traded at $7.04 and had previously closed at $6.82.

Wall Street Analysts Forecast Growth

CDXC has been the subject of a number of research analyst reports. Roth Mkm lifted 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 lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, HC Wainwright boosted their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

ChromaDex Stock Performance

The company’s 50-day moving average price is $4.37 and its 200 day moving average price is $3.51. The stock has a market capitalization of $572.85 million, a PE ratio of 735.74 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings data 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 period last year, the business posted ($0.01) earnings per share. Analysts expect that ChromaDex Co. will post 0.04 earnings per share for the current year.

Insider Activity

In other news, Director Kristin Patrick sold 23,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total value of $82,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CDXC. Miracle Mile Advisors LLC bought a new stake in shares of ChromaDex in the 2nd quarter worth about $27,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ChromaDex in the second quarter valued at approximately $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex in the second quarter worth approximately $32,000. Lazard Asset Management LLC purchased a new position in ChromaDex during the 1st quarter worth $43,000. Finally, FMR LLC bought a new stake in ChromaDex during the 3rd quarter valued at $55,000. Institutional investors 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.