Ladenburg Thalmann Financial Services Begins Coverage on Chromadex Corp (CDXC)
Research analysts at Ladenburg Thalmann Financial Services started coverage on shares of Chromadex Corp (OTCMKTS:CDXC) in a report released on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. Ladenburg Thalmann Financial Services’ target price points to a potential upside of 62.04% from the company’s previous close.
Other analysts have also recently issued research reports about the company. ValuEngine cut Chromadex Corp from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Zacks Investment Research cut Chromadex Corp from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, HC Wainwright set a $5.00 price target on Chromadex Corp and gave the stock a “buy” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.
Chromadex Corp (OTCMKTS CDXC) traded up 8.00% on Monday, reaching $4.32. The company’s stock had a trading volume of 314,614 shares. The firm’s 50 day moving average price is $3.53 and its 200-day moving average price is $3.26. The company’s market capitalization is $199.12 million. Chromadex Corp has a 1-year low of $2.25 and a 1-year high of $4.85.
Chromadex Corp (OTCMKTS:CDXC) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.09). Chromadex Corp had a negative return on equity of 63.19% and a negative net margin of 52.09%. The firm had revenue of $5.31 million for the quarter, compared to analyst estimates of $11.00 million. Equities analysts forecast that Chromadex Corp will post ($0.14) earnings per share for the current year.
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In related news, major shareholder Step Holdings Ltd Pioneer acquired 786,167 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $2.60 per share, with a total value of $2,044,034.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert N. Fried acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $3.15 per share, with a total value of $31,500.00. Following the acquisition, the insider now owns 583,241 shares in the company, valued at $1,837,209.15. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 798,167 shares of company stock valued at $2,082,154.
Hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC lifted its holdings in shares of Chromadex Corp by 0.3% in the 1st 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 during the period. Bank of Montreal Can acquired a new position in shares of Chromadex Corp in the 2nd quarter valued at about $168,000. LMR Partners LLP acquired a new position in shares of Chromadex Corp in the 2nd quarter valued at about $347,000. Goldman Sachs Group Inc. lifted its holdings in shares of Chromadex Corp by 870.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 182,633 shares of the company’s stock valued at $698,000 after buying an additional 163,817 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in shares of Chromadex Corp by 78.9% in the 2nd quarter. North Star Investment Management Corp. now owns 265,334 shares of the company’s stock valued at $1,014,000 after buying an additional 117,000 shares during the period.
Chromadex Corp Company Profile
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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