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

ChromaDex Co. (NASDAQ:CDXC) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 2,600,000 shares, a drop of 12.2% from the October 15th total of 2,960,000 shares. Based on an average daily volume of 993,800 shares, the days-to-cover ratio is currently 2.6 days. Approximately 5.4% of the shares of the stock are sold short.

Insider Transactions at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.57, for a total value of $82,110.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.64% of the company’s stock.

Hedge Funds Weigh In On ChromaDex

Several institutional investors have recently modified their holdings of CDXC. OneDigital Investment Advisors LLC grew its stake in ChromaDex by 5.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after purchasing an additional 3,097 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of ChromaDex by 39.3% in the 3rd quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock valued at $66,000 after purchasing an additional 5,115 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of ChromaDex by 75.4% in 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 in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of ChromaDex during the second quarter worth $27,000. Finally, The Manufacturers Life Insurance Company purchased a new position in ChromaDex in the second quarter valued at $31,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

ChromaDex Trading Down 5.3 %

ChromaDex stock traded down $0.38 during trading on Friday, hitting $6.82. The company had a trading volume of 1,037,216 shares, compared to its average volume of 2,782,919. The stock has a market cap of $520.93 million, a price-to-earnings ratio of 682.00 and a beta of 1.88. ChromaDex has a 1-year low of $1.32 and a 1-year high of $7.58. The company’s 50 day simple moving average is $4.20 and its 200-day simple moving average is $3.46.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $25.58 million for the quarter, compared to the consensus estimate of $23.70 million. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. During the same quarter in the previous year, the business earned ($0.01) EPS. As a group, analysts forecast that ChromaDex will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CDXC. Roth Mkm raised their price target on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com downgraded ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright increased their price target on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

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.