ChromaDex (NASDAQ:CDXC) Given New $8.00 Price Target at Roth Mkm

ChromaDex (NASDAQ:CDXC) had its price objective upped by Roth Mkm from $6.00 to $8.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 16.28% from the stock’s current price.

Separately, HC Wainwright upped their price target on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday.

ChromaDex Stock Up 12.6 %

CDXC traded up $0.77 on Wednesday, reaching $6.88. The company’s stock had a trading volume of 1,033,558 shares, compared to its average volume of 502,459. The stock has a 50 day moving average of $3.63 and a two-hundred day moving average of $3.26. The company has a market capitalization of $522.42 million, a price-to-earnings ratio of 688.00 and a beta of 1.88. ChromaDex has a fifty-two week low of $1.32 and a fifty-two week high of $6.91.

ChromaDex (NASDAQ:CDXC) last announced its quarterly 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 during 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 in the prior year, the company posted ($0.01) earnings per share. As a group, analysts anticipate that ChromaDex will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kristin Patrick sold 23,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

Several hedge funds have recently modified their holdings of the stock. OneDigital Investment Advisors LLC lifted its holdings in shares of ChromaDex by 5.5% during the third quarter. OneDigital Investment Advisors LLC now owns 59,414 shares of the company’s stock worth $217,000 after purchasing an additional 3,097 shares during the period. BSW Wealth Partners purchased a new position in ChromaDex in the third quarter worth $324,000. SG Americas Securities LLC purchased a new position in ChromaDex in the third quarter worth $61,000. The Manufacturers Life Insurance Company purchased a new position in ChromaDex in the second quarter worth $31,000. Finally, Marshall Wace LLP purchased a new position in ChromaDex in the second quarter worth $56,000. 15.41% of the stock is owned by institutional investors and hedge funds.

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.