Short Interest in ChromaDex Co. (NASDAQ:CDXC) Declines By 12.2%

ChromaDex Co. (NASDAQ:CDXC) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,600,000 shares, a decrease of 12.2% from the October 15th total of 2,960,000 shares. Currently, 5.4% of the shares of the company are sold short. Based on an average trading volume of 993,800 shares, the short-interest ratio is currently 2.6 days.

ChromaDex Trading Down 5.3 %

Shares of ChromaDex stock traded down $0.38 during trading hours on Friday, reaching $6.82. The stock had a trading volume of 1,037,216 shares, compared to its average volume of 2,782,919. ChromaDex has a twelve month low of $1.32 and a twelve month high of $7.58. The firm has a market capitalization of $520.93 million, a PE ratio of 682.00 and a beta of 1.88. The stock’s 50 day moving average is $4.20 and its 200 day moving average is $3.46.

ChromaDex (NASDAQ:CDXC) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.02 EPS for the quarter. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. The company had revenue of $25.58 million for the quarter, compared to analyst estimates of $23.70 million. During the same period last year, the company earned ($0.01) earnings per share. As a group, sell-side analysts predict that ChromaDex will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at ChromaDex

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.64% of the stock is owned by insiders.

Hedge Funds Weigh In On ChromaDex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXC. Geode Capital Management LLC raised its position in shares of ChromaDex by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock worth $4,197,000 after purchasing an additional 17,963 shares during the last quarter. State Street Corp increased its stake in ChromaDex by 11.3% during the 3rd quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after buying an additional 62,692 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of ChromaDex by 8.4% during the second quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock valued at $1,136,000 after acquiring an additional 32,400 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of ChromaDex in the second quarter valued at approximately $597,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of ChromaDex by 170.0% in the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock worth $520,000 after acquiring an additional 119,915 shares during the last quarter. 15.41% of the stock is owned by hedge funds and other 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.