ChromaDex (NASDAQ:CDXC) Hits New 1-Year High – Here’s Why

ChromaDex Co. (NASDAQ:CDXC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.89 and last traded at $7.78, with a volume of 174627 shares trading hands. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Roth Mkm increased their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

ChromaDex Stock Performance

The firm has a market capitalization of $587.36 million, a PE ratio of 759.76 and a beta of 1.88. The business’s 50 day moving average is $4.77 and its two-hundred day moving average is $3.64.

ChromaDex (NASDAQ:CDXC) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (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 for the quarter, compared to analysts’ expectations of $23.70 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. As a group, equities research analysts predict that ChromaDex Co. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On ChromaDex

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in ChromaDex by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock worth $4,197,000 after acquiring an additional 17,963 shares in the last quarter. State Street Corp lifted its stake in shares of ChromaDex by 11.3% in the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after buying an additional 62,692 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of ChromaDex by 8.4% in the second quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock worth $1,136,000 after buying an additional 32,400 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of ChromaDex in the second quarter worth approximately $597,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of ChromaDex by 170.0% in the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock worth $520,000 after buying an additional 119,915 shares in the last quarter. Institutional investors own 15.41% of the company’s stock.

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.