BidaskClub Lowers Chromadex (CDXC) to Hold

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Chromadex (NASDAQ:CDXC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other analysts have also recently issued reports on CDXC. Zacks Investment Research raised Chromadex from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Monday, February 11th. B. Riley initiated coverage on Chromadex in a research report on Thursday, February 14th. They set a “buy” rating and a $7.00 target price on the stock. ValuEngine raised Chromadex from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Chromadex in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Chromadex has a consensus rating of “Hold” and an average target price of $6.00.

Shares of NASDAQ CDXC opened at $4.59 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.68 and a debt-to-equity ratio of 0.07. The firm has a market cap of $254.85 million, a price-to-earnings ratio of -7.52 and a beta of 1.12. Chromadex has a 12-month low of $2.79 and a 12-month high of $5.00.

Chromadex (NASDAQ:CDXC) last announced its earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $10.05 million for the quarter, compared to the consensus estimate of $9.80 million. Chromadex had a negative net margin of 94.78% and a negative return on equity of 108.84%. As a group, equities research analysts expect that Chromadex will post -0.38 EPS for the current year.

In other Chromadex news, insider Kevin M. Farr acquired 6,725 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $3.99 per share, with a total value of $26,832.75. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen A. Block sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $3.52, for a total value of $35,200.00. The disclosure for this sale can be found here. Insiders bought a total of 19,678 shares of company stock valued at $75,707 in the last three months. Insiders own 10.26% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new stake in shares of Chromadex in the 1st quarter worth $34,000. Resources Investment Advisors Inc. boosted its position in shares of Chromadex by 125.0% in the 4th quarter. Resources Investment Advisors Inc. now owns 9,000 shares of the company’s stock worth $31,000 after purchasing an additional 5,000 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in shares of Chromadex in the 1st quarter worth $42,000. Spark Investment Management LLC acquired a new stake in shares of Chromadex in the 1st quarter worth $78,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Chromadex during the 1st quarter worth about $121,000. 17.92% of the stock is owned by hedge funds and other institutional investors.

Chromadex Company Profile

ChromaDex Corporation operates as a nutraceutical company. The company offers Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide (NAD) level used for healthy aging; and Immulina, a spirulina extract and compound, which is used for improving human immune function.

See Also: Oversold

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