Chromadex Corp (OTCMKTS:CDXC) Stock Rating Lowered by Zacks Investment Research
Chromadex Corp (OTCMKTS:CDXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
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 topic of a number of other research reports. HC Wainwright set a $6.00 target price on Chromadex Corp and gave the company a “buy” rating in a report on Monday, March 20th. ValuEngine upgraded Chromadex Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th.
Shares of Chromadex Corp (CDXC) traded down 2.49% during trading on Monday, hitting $3.53. The stock had a trading volume of 214,113 shares. Chromadex Corp has a 12-month low of $2.25 and a 12-month high of $4.55. The stock’s 50 day moving average is $3.42 and its 200-day moving average is $2.98. The company’s market cap is $140.46 million.
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In other Chromadex Corp news, major shareholder Step Holdings Ltd Pioneer bought 2,521,526 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were acquired at an average cost of $2.60 per share, with a total value of $6,555,967.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several hedge funds have recently made changes to their positions in CDXC. Tieton Capital Management LLC purchased a new stake in shares of Chromadex Corp during the first quarter valued at $1,853,000. Segall Bryant & Hamill LLC raised its stake in shares of Chromadex Corp by 0.3% in the first quarter. Segall Bryant & Hamill LLC now owns 38,834 shares of the company’s stock valued at $104,000 after buying an additional 133 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Chromadex Corp during the second quarter valued at $168,000.
About Chromadex Corp
Chromadex Corporation and its subsidiaries ChromaDex, Inc, ChromaDex Analytics, Inc and Spherix Consulting, Inc provide research and quality-control products and services to the natural products industry. The Company allows its business units to discover, acquire, develop and commercialize ingredient technologies that address the dietary supplement, food, beverage, skin care and pharmaceutical markets.
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