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

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

Analyst Ratings Changes

A number of research firms have weighed in on CDXC. HC Wainwright boosted their target price on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Roth Mkm boosted their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

ChromaDex Price Performance

The firm has a market cap of $587.36 million, a P/E ratio of 759.76 and a beta of 1.88. The stock’s 50 day moving average is $4.77 and its two-hundred day moving average is $3.64.

ChromaDex (NASDAQ:CDXC) last posted its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The business had revenue of $25.58 million for 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 quarter in the previous year, the firm posted ($0.01) earnings per share. As a group, research analysts forecast that ChromaDex Co. will post 0.04 EPS for the current fiscal year.

Institutional Trading of ChromaDex

Several large investors have recently added to or reduced their stakes in CDXC. Miracle Mile Advisors LLC acquired a new stake in ChromaDex in the second quarter valued at $27,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ChromaDex during the 2nd quarter worth about $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex in the 2nd quarter valued at about $32,000. Lazard Asset Management LLC bought a new stake in shares of ChromaDex during the 1st quarter valued at approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in ChromaDex during the 1st quarter worth approximately $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.