ChromaDex (NASDAQ:CDXC) Sees Strong Trading Volume – Here’s Why

ChromaDex Co. (NASDAQ:CDXC) shares saw unusually-high trading volume on Monday . Approximately 656,394 shares traded hands 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.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CDXC. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a report on Monday. Roth Mkm increased their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, HC Wainwright upped their target price 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 Down 0.3 %

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

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

Insiders Place Their Bets

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CDXC. Barclays PLC increased its holdings in ChromaDex by 322.1% during the 3rd quarter. Barclays PLC now owns 70,072 shares of the company’s stock worth $256,000 after purchasing an additional 53,472 shares during the period. Geode Capital Management LLC raised its holdings 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 purchasing an additional 17,963 shares in the last quarter. Jane Street Group LLC boosted its stake in ChromaDex by 100.3% in the third quarter. Jane Street Group LLC now owns 45,712 shares of the company’s stock valued at $167,000 after acquiring an additional 22,889 shares in the last quarter. State Street Corp grew its stake in ChromaDex by 11.3% during the 3rd 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 during the last quarter. Finally, MetLife Investment Management LLC increased its position in ChromaDex by 39.3% during the third quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock worth $66,000 after buying an additional 5,115 shares during the period. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

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.