ChromaDex Co. (NASDAQ:CDXC) Sees Large Increase in Short Interest

ChromaDex Co. (NASDAQ:CDXC) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,070,000 shares, a growth of 6.7% from the December 15th total of 1,940,000 shares. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 1.6 days. Approximately 4.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

CDXC has been the topic of several recent analyst reports. Roth Mkm upped 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. StockNews.com downgraded shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 15th. Finally, HC Wainwright increased their target price on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

ChromaDex Stock Performance

Shares of NASDAQ:CDXC traded up $0.29 during mid-day trading on Monday, hitting $5.94. 364,834 shares of the company traded hands, compared to its average volume of 436,868. ChromaDex has a 52-week low of $1.36 and a 52-week high of $7.97. The firm has a market cap of $453.72 million, a P/E ratio of 594.59 and a beta of 2.21. The firm’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $4.47.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $25.58 million during the quarter, compared to analyst estimates of $23.70 million. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. During the same quarter last year, the firm earned ($0.01) EPS. Equities research analysts expect that ChromaDex will post 0.04 EPS for the current fiscal year.

Insider Activity at ChromaDex

In other ChromaDex news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the completion of the transaction, the director now owns 244,179 shares of the company’s stock, valued at approximately $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.64% of the company’s stock.

Institutional Trading of ChromaDex

Institutional investors and hedge funds have recently modified their holdings of the business. BSW Wealth Partners acquired a new position in shares of ChromaDex during the third quarter worth approximately $324,000. FMR LLC bought a new position in shares of ChromaDex in the third quarter valued at approximately $55,000. State Street Corp raised its holdings in ChromaDex by 11.3% during the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after purchasing an additional 62,692 shares in the last quarter. Geode Capital Management LLC boosted its stake in ChromaDex by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock valued at $4,197,000 after purchasing an additional 17,963 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of ChromaDex by 75.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,732 shares of the company’s stock valued at $72,000 after purchasing an additional 8,485 shares during the period. 15.41% of the stock is owned by institutional investors and hedge funds.

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.