ChromaDex (NASDAQ:CDXC) Sees Strong Trading Volume – What’s Next?

Shares of ChromaDex Co. (NASDAQ:CDXC) saw unusually-strong trading volume on Monday . Approximately 656,394 shares changed 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 Upgrades and Downgrades

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

ChromaDex Stock Up 6.6 %

The company’s 50 day moving average is $4.20 and its two-hundred day moving average is $3.46. The company has a market capitalization of $555.30 million, a PE ratio of 679.00 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.02 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 during the quarter, compared to analyst estimates of $23.70 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Analysts forecast that ChromaDex Co. will post 0.04 EPS for the current year.

Insider Transactions at ChromaDex

In related news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated Friday, August 23rd. The stock was 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 accessible through this link. Insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in ChromaDex by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock valued at $4,197,000 after acquiring an additional 17,963 shares during the last quarter. Barclays PLC increased its holdings in shares of ChromaDex by 322.1% in the 3rd quarter. Barclays PLC now owns 70,072 shares of the company’s stock valued at $256,000 after acquiring an additional 53,472 shares during the period. Jane Street Group LLC increased its stake in ChromaDex by 100.3% in the 3rd quarter. Jane Street Group LLC now owns 45,712 shares of the company’s stock valued at $167,000 after buying an additional 22,889 shares during the period. State Street Corp lifted its position in ChromaDex by 11.3% in the third quarter. State Street Corp now owns 618,028 shares of the company’s stock valued at $2,256,000 after purchasing an additional 62,692 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of ChromaDex by 39.3% in the third quarter. MetLife Investment Management LLC now owns 18,114 shares of the company’s stock valued at $66,000 after buying an additional 5,115 shares in the last quarter. Hedge funds and other institutional investors own 15.41% of the company’s stock.

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.