ChromaDex (NASDAQ:CDXC) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

ChromaDex Co. (NASDAQ:CDXC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.22 and traded as high as $5.55. ChromaDex shares last traded at $5.30, with a volume of 256,732 shares.

Analyst Ratings Changes

CDXC has been the topic of several research reports. HC Wainwright upped 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. Roth Mkm increased 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. Finally, StockNews.com raised ChromaDex from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 25th.

ChromaDex Stock Up 3.4 %

The stock's 50 day moving average price is $6.25 and its two-hundred day moving average price is $4.23. The stock has a market cap of $418.58 million, a price-to-earnings ratio of 548.55 and a beta of 2.15.

ChromaDex (NASDAQ:CDXC - Get Free Report) last announced its quarterly 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 the consensus estimate of $23.70 million. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. During the same period last year, the firm earned ($0.01) EPS. On average, analysts predict that ChromaDex Co. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at ChromaDex

In related news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the firm's 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 sale, the director now owns 244,179 shares in the company, valued at approximately $1,511,468.01. This trade represents a 13.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ChromaDex

Several hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in ChromaDex in the 2nd quarter worth about $597,000. Bank of New York Mellon Corp increased its position in shares of ChromaDex by 170.0% in the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company's stock valued at $520,000 after buying an additional 119,915 shares in the last quarter. BSW Wealth Partners acquired a new position in shares of ChromaDex during the 3rd quarter worth approximately $324,000. BNP Paribas Financial Markets lifted its position in shares of ChromaDex by 1,885.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 73,272 shares of the company's stock valued at $267,000 after buying an additional 69,582 shares in the last quarter. Finally, State Street Corp grew its stake in ChromaDex by 11.3% in the 3rd quarter. State Street Corp now owns 618,028 shares of the company's stock valued at $2,256,000 after acquiring an additional 62,692 shares during the period. 15.41% of the stock is owned by hedge funds and other institutional investors.

About ChromaDex

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.