ChromaDex Co. (NASDAQ:CDXC – Get Rating) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,260,000 shares, an increase of 5.6% from the August 15th total of 2,140,000 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average trading volume of 461,600 shares, the short-interest ratio is presently 4.9 days.
Analysts Set New Price Targets
Several analysts have recently weighed in on CDXC shares. B. Riley downgraded shares of ChromaDex from a "buy" rating to a "neutral" rating and lowered their target price for the company from $6.00 to $2.40 in a report on Thursday, August 11th. HC Wainwright lowered their target price on shares of ChromaDex from $7.00 to $5.50 and set a "buy" rating on the stock in a report on Monday, August 29th. Finally, Oppenheimer cut shares of ChromaDex from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $5.48.
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Institutional Investors Weigh In On ChromaDex
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in ChromaDex by 9.5% in the first quarter. Vanguard Group Inc. now owns 2,781,437 shares of the company's stock valued at $6,842,000 after purchasing an additional 240,414 shares during the period. Tieton Capital Management LLC grew its holdings in ChromaDex by 59.9% in the second quarter. Tieton Capital Management LLC now owns 2,285,015 shares of the company's stock valued at $3,816,000 after purchasing an additional 856,273 shares during the period. State Street Corp grew its holdings in ChromaDex by 4.1% in the first quarter. State Street Corp now owns 932,526 shares of the company's stock valued at $2,294,000 after purchasing an additional 36,308 shares during the period. Millennium Management LLC purchased a new stake in ChromaDex in the second quarter valued at approximately $1,275,000. Finally, Renaissance Technologies LLC grew its holdings in ChromaDex by 76.0% in the second quarter. Renaissance Technologies LLC now owns 739,900 shares of the company's stock valued at $1,236,000 after purchasing an additional 319,399 shares during the period. 41.83% of the stock is currently owned by hedge funds and other institutional investors.
ChromaDex Price Performance
CDXC traded down $0.02 during midday trading on Wednesday, reaching $1.39. 200 shares of the company's stock were exchanged, compared to its average volume of 156,641. The business's 50-day moving average price is $1.64 and its 200 day moving average price is $1.90. The stock has a market capitalization of $94.99 million, a PE ratio of -3.44 and a beta of 1.74. ChromaDex has a 1-year low of $1.36 and a 1-year high of $6.98.
ChromaDex (NASDAQ:CDXC – Get Rating) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). ChromaDex had a negative net margin of 41.01% and a negative return on equity of 99.51%. During the same quarter last year, the business posted ($0.08) earnings per share. As a group, analysts expect that ChromaDex will post -0.3 EPS for the current fiscal year.
About ChromaDex
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ChromaDex Corporation operates as a bioscience company focusing on healthy aging. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches on nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers, as well as to distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.
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