ChromaDex (NASDAQ:CDXC) Sees Strong Trading Volume – Should You Buy?

ChromaDex Co. (NASDAQ:CDXC) shares saw unusually-strong trading volume on Monday . Approximately 656,394 shares traded hands during mid-day 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on CDXC shares. StockNews.com downgraded shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. HC Wainwright lifted their target price on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Roth Mkm boosted their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, November 6th.

ChromaDex Trading Up 6.6 %

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

ChromaDex (NASDAQ:CDXC) last issued its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. The company had revenue of $25.58 million for the quarter, compared to analysts’ expectations of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities research analysts expect that ChromaDex Co. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions 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 stock was sold at an average price of $3.57, for a total value of $82,110.00. The sale was disclosed in a filing with the SEC, which is available through this link. 9.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ChromaDex

Several large investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC acquired a new position in ChromaDex in the second quarter valued at approximately $27,000. The Manufacturers Life Insurance Company bought a new stake in ChromaDex in the 2nd quarter valued at $31,000. Merriman Wealth Management LLC bought a new position in ChromaDex during the second quarter worth about $32,000. Lazard Asset Management LLC bought a new position in shares of ChromaDex during the first quarter worth approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in ChromaDex during the first quarter worth about $54,000. 15.41% of the stock is currently owned by institutional investors.

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.