Chromadex (NASDAQ:CDXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “ChromaDex Corporation and its subsidiaries supply phytochemical reference standards and reference materials, related contract services, and products for the dietary supplement, nutraceutical, food and beverage, functional food, pharmaceutical and cosmetic markets. ChromaDex’s core business strategy is to use the intellectual property harnessed by its expertise in the area of natural products and in the creation of reference materials to the industry as the basis for providing new and alternative, green, mass marketable products to its customers. The Company’s main priority is to create industry-accepted information, and to provide products and services to every layer of the functional food, pharmaceutical, personal care and dietary supplement markets. The company markets and sells its products in the United States and Canada. It offers its products through distributors in Europe, South America, Korea, India, Japan, Australia, New Zealand, China, Indonesia, Malaysia, Singapore, Thailand, and Mexico. “
Other research analysts have also issued research reports about the stock. ValuEngine raised shares of Chromadex from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. HC Wainwright set a $8.00 price objective on shares of Chromadex and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, BidaskClub lowered shares of Chromadex from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.50.
Chromadex (NASDAQ:CDXC) last posted its quarterly earnings data on Thursday, March 8th. The company reported ($0.17) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). Chromadex had a negative net margin of 48.68% and a negative return on equity of 69.71%. The business had revenue of $7.53 million during the quarter, compared to analyst estimates of $7.50 million. sell-side analysts expect that Chromadex will post -0.06 EPS for the current year.
In related news, CEO Frank L. Jaksch, Jr. sold 58,400 shares of Chromadex stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $6.19, for a total value of $361,496.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank L. Jaksch, Jr. sold 28,379 shares of Chromadex stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $6.52, for a total transaction of $185,031.08. The disclosure for this sale can be found here. 11.59% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Chromadex by 61.1% in the fourth quarter. Millennium Management LLC now owns 542,994 shares of the company’s stock worth $3,193,000 after acquiring an additional 205,852 shares during the last quarter. Two Sigma Investments LP purchased a new position in Chromadex in the fourth quarter worth approximately $145,000. Deutsche Bank AG lifted its stake in Chromadex by 31,769.4% in the fourth quarter. Deutsche Bank AG now owns 22,946 shares of the company’s stock worth $134,000 after acquiring an additional 22,874 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Chromadex in the fourth quarter worth approximately $265,000. Finally, Monashee Investment Management LLC purchased a new position in Chromadex in the fourth quarter worth approximately $140,000. Institutional investors own 10.30% of the company’s stock.
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Chromadex Corporation and its subsidiaries ChromaDex, Inc, ChromaDex Analytics, Inc and Spherix Consulting, Inc provide research and quality-control products and services to the natural products industry. The Company allows its business units to discover, acquire, develop and commercialize ingredient technologies that address the dietary supplement, food, beverage, skin care and pharmaceutical markets.
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