Chromadex (CDXC) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Chromadex (NASDAQ:CDXC) from a sell rating to a hold rating in a report published on Thursday morning.
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. “
CDXC has been the subject of a number of other reports. HC Wainwright restated a buy rating and set a $8.00 price objective on shares of Chromadex in a report on Tuesday, August 7th. ValuEngine upgraded Chromadex from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, BidaskClub downgraded Chromadex from a hold rating to a sell rating in a report on Friday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $7.50.
Chromadex (NASDAQ:CDXC) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Chromadex had a negative return on equity of 65.33% and a negative net margin of 82.82%. The business had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $7.50 million. analysts expect that Chromadex will post -0.54 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in Chromadex by 31,769.4% in the 4th quarter. Deutsche Bank AG now owns 22,946 shares of the company’s stock valued at $134,000 after purchasing an additional 22,874 shares in the last quarter. Rhumbline Advisers acquired a new stake in Chromadex in the 2nd quarter valued at $118,000. Element Capital Management LLC acquired a new stake in Chromadex in the 1st quarter valued at $155,000. Renaissance Technologies LLC acquired a new stake in Chromadex in the 4th quarter valued at $265,000. Finally, Wells Fargo & Company MN increased its holdings in Chromadex by 370.4% in the 4th quarter. Wells Fargo & Company MN now owns 51,747 shares of the company’s stock valued at $304,000 after purchasing an additional 40,747 shares in the last quarter. Hedge funds and other institutional investors own 16.24% of the company’s stock.
ChromaDex Corporation operates as a nutraceutical company. The company offers research and quality control products and services to dietary supplements, food, beverages, cosmetic, and pharmaceutical industries; Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide(NAD) level used for healthy aging; Pterostilbene (pTeroPure), a polyphenol and antioxidant used in health related fields; and Immulina, a spirulina extract and compound, which is used for improving human immune function, as well as developing Pterostilbene and caffeine co-crystal ingredients, and anthocyanins ingredients.
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