HC Wainwright Brokers Boost Earnings Estimates for ChromaDex

ChromaDex Co. (NASDAQ:CDXC - Free Report) - Research analysts at HC Wainwright upped their FY2024 earnings per share estimates for ChromaDex in a research note issued on Monday, November 4th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn $0.06 per share for the year, up from their prior estimate of $0.03. HC Wainwright currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for ChromaDex's current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for ChromaDex's Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.04 EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at $0.05 EPS and Q4 2025 earnings at $0.06 EPS.

ChromaDex Trading Up 6.4 %

CDXC stock traded up $0.37 during midday trading on Tuesday, hitting $6.11. The company's stock had a trading volume of 2,125,214 shares, compared to its average volume of 499,942. The firm's 50-day moving average is $3.57 and its 200-day moving average is $3.24. ChromaDex has a 12 month low of $1.32 and a 12 month high of $6.38. The company has a market cap of $463.95 million, a PE ratio of 618.00 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $25.58 million for the quarter, compared to the consensus estimate of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same quarter in the prior year, the firm posted ($0.01) earnings per share.

Institutional Investors Weigh In On ChromaDex

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in shares of ChromaDex by 8.4% in the second quarter. Renaissance Technologies LLC now owns 416,100 shares of the company's stock worth $1,136,000 after acquiring an additional 32,400 shares during the period. WINTON GROUP Ltd bought a new stake in shares of ChromaDex during the 2nd quarter valued at about $597,000. Bank of New York Mellon Corp increased its position in shares of ChromaDex by 170.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company's stock valued at $520,000 after purchasing an additional 119,915 shares during the last quarter. BSW Wealth Partners bought a new position in shares of ChromaDex in the 3rd quarter worth approximately $324,000. Finally, Rhumbline Advisers bought a new position in shares of ChromaDex in the 2nd quarter worth approximately $124,000. 15.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.57, for a total value of $82,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.64% of the company's stock.

ChromaDex Company Profile

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.