ChromaDex Stock Rating Downgraded by StockNews.com

ChromaDex (NASDAQ:CDXC) has recently faced a downgrade from StockNews.com, which lowered its rating from "strong-buy" to "buy". This adjustment was detailed in a research report published on Friday.

In addition to StockNews.com, various analysts have also expressed their views on ChromaDex. Roth MKM revised their target price for the stock, increasing it from $6.00 to $8.00, while maintaining a "buy" rating. This report was made public on November 6th. Similarly, HC Wainwright also raised their price target from $6.00 to $8.00, attaching a "buy" rating in their own research note on November 4th.

ChromaDex Performance on the Market

On the day of the downgrade, ChromaDex shares saw a modest increase of 0.5%, trading up by $0.03 to $5.51. The trading volume for the day reached 332,655 shares, slightly below the average volume of 399,378. The company boasts a market capitalization of approximately $420.87 million and a price-to-earnings (PE) ratio of 551.55, alongside a beta value of 2.15. Over the past year, the stock has fluctuated significantly, with a low of $1.36 and a high of $7.97. The 50-day moving average is currently at $6.29, while the 200-day average stands at $4.24.

ChromaDex recently reported its quarterly earnings on October 31st, announcing earnings per share (EPS) of $0.02, exceeding analyst predictions of $0.01. Additionally, the company generated revenue of $25.58 million for the quarter, surpassing estimates of $23.70 million. ChromaDex's net margin stands at 1.62%, with a return on equity of 4.85%. Analysts are projecting the company will achieve 0.04 EPS for the current year.

Insider Trading Activity

In recent news, Director Frank L. Jaksch, Jr. sold 37,161 shares of ChromaDex on December 13th, at an average price of $6.19 per share, totaling approximately $230,027. After this sale, he holds around 244,179 shares valued at about $1.51 million. This transaction indicates a 13.21% reduction in his ownership of the shares. The sale was disclosed in a filing with the Securities and Exchange Commission, accessible for public viewing. Notably, insiders currently own approximately 9.64% of ChromaDex's stock.

Institutional Investor Interest

ChromaDex has seen increased interest from institutional investors and hedge funds, with several acquiring shares recently. WINTON GROUP Ltd made a new investment in the stock during the second quarter, amounting to $597,000. Furthermore, Bank of New York Mellon Corp boosted its stake in ChromaDex by 170%, now holding 190,442 shares worth around $520,000 after purchasing an additional 119,915 shares. In the third quarter, BSW Wealth Partners also acquired a new position valued at $324,000. Other notable increases include BNP Paribas Financial Markets, which raised its stake by nearly 1,886%, and State Street Corp, which grew its holdings by 11.3%. Collectively, hedge funds and institutional investors own about 15.41% of ChromaDex's shares.

About ChromaDex

ChromaDex Corporation focuses on bioscience, particularly on developing products aimed at promoting healthy aging. The company operates through three main segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services. ChromaDex conducts research on nicotinamide adenine dinucleotide (NAD+), sells dietary supplements containing proprietary ingredients, and also develops and markets unique ingredient technologies.

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