ChromaDex Co. (NASDAQ:CDXC - Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,110,000 shares, an increase of 6.0% from the January 15th total of 1,990,000 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily volume of 624,900 shares, the days-to-cover ratio is presently 3.4 days.
ChromaDex Price Performance
Shares of NASDAQ CDXC traded down $0.28 during trading hours on Friday, reaching $5.42. The stock had a trading volume of 451,873 shares, compared to its average volume of 356,696. ChromaDex has a twelve month low of $1.48 and a twelve month high of $7.97. The business's fifty day moving average is $5.63 and its two-hundred day moving average is $4.95. The company has a market cap of $413.98 million, a price-to-earnings ratio of 542.54 and a beta of 2.21.
Insider Activity at ChromaDex
In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the completion of the transaction, the director now directly owns 244,179 shares in the company, valued at $1,511,468.01. The trade was a 13.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.64% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ChromaDex
A number of hedge funds have recently made changes to their positions in CDXC. D. E. Shaw & Co. Inc. raised its position in ChromaDex by 1,785.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company's stock worth $5,365,000 after purchasing an additional 957,665 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in ChromaDex by 288.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company's stock valued at $3,517,000 after purchasing an additional 492,148 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in ChromaDex by 189.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 506,186 shares of the company's stock valued at $2,685,000 after purchasing an additional 331,014 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ChromaDex in the 4th quarter worth approximately $1,647,000. Finally, Renaissance Technologies LLC raised its holdings in shares of ChromaDex by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company's stock worth $3,781,000 after buying an additional 288,588 shares in the last quarter. Institutional investors and hedge funds own 15.41% of the company's stock.
Analysts Set New Price Targets
Several research firms recently commented on CDXC. HC Wainwright upped their target price on shares of ChromaDex from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Monday, November 4th. StockNews.com downgraded shares of ChromaDex from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 15th. Finally, Roth Mkm upped their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th.
Get Our Latest Analysis on CDXC
About ChromaDex
(
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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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