ChromaDex (NASDAQ:CDXC) Trading Down 8.1% – Here’s What Happened

by · The Cerbat Gem

ChromaDex Co. (NASDAQ:CDXC – Get Free Report) fell 8.1% during mid-day trading on Thursday . The company traded as low as $7.97 and last traded at $7.86. 1,034,433 shares changed hands during trading, an increase of 25% from the average session volume of 826,390 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDXC. StockNews.com lowered shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Thursday. LADENBURG THALM/SH SH raised their target price on shares of ChromaDex from $6.80 to $8.10 and gave the stock a “buy” rating in a research report on Wednesday.

Check Out Our Latest Stock Analysis on CDXC

ChromaDex Stock Performance

The company has a market cap of $588.15 million, a price-to-earnings ratio of 770.77 and a beta of 2.21. The stock’s fifty day simple moving average is $5.77 and its two-hundred day simple moving average is $5.18.

Insider Buying and Selling at ChromaDex

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of ChromaDex stock in a transaction on Friday, December 13th. The shares were sold at an average price of $6.19, for a total transaction of $230,026.59. Following the transaction, the director now owns 244,179 shares in the company, valued at approximately $1,511,468.01. The trade was a 13.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On ChromaDex

Several hedge funds and other institutional investors have recently made changes to their positions in CDXC. USA Financial Formulas acquired a new position in shares of ChromaDex during the 4th quarter valued at $25,000. State of Wyoming acquired a new position in shares of ChromaDex during the 4th quarter valued at $39,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of ChromaDex during the 4th quarter valued at $53,000. Truist Financial Corp acquired a new position in shares of ChromaDex during the 4th quarter valued at $54,000. Finally, FMR LLC acquired a new position in shares of ChromaDex during the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 15.41% of the company’s stock.

About ChromaDex

(Get Free Report)

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.

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