Chromadex (CDXC) Cut to Sell at Zacks Investment Research

Chromadex (NASDAQ: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 subject of a number of other research reports. HC Wainwright set a $8.00 price target on shares of Chromadex and gave the company a “buy” rating in a research note on Friday, December 15th. ValuEngine cut shares of Chromadex from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, BidaskClub cut shares of Chromadex from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Chromadex (NASDAQ CDXC) traded down $0.25 during trading on Monday, reaching $4.82. 759,669 shares of the company were exchanged, compared to its average volume of 575,633. The company has a market capitalization of $259.30, a P/E ratio of -20.96 and a beta of 1.03. Chromadex has a 1-year low of $2.26 and a 1-year high of $7.24. The company has a current ratio of 5.03, a quick ratio of 4.12 and a debt-to-equity ratio of 0.01.

Chromadex (NASDAQ:CDXC) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $6.09 million during the quarter, compared to analyst estimates of $6.50 million. Chromadex had a negative net margin of 21.89% and a negative return on equity of 47.30%. analysts predict that Chromadex will post -0.15 earnings per share for the current fiscal year.

In other Chromadex news, CEO Frank L. Jaksch, Jr. sold 58,400 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $6.19, for a total value of $361,496.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank L. Jaksch, Jr. sold 28,379 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $6.52, for a total transaction of $185,031.08. The disclosure for this sale can be found here. Company insiders own 11.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CDXC. Goldman Sachs Group Inc. lifted its stake in shares of Chromadex by 870.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 182,633 shares of the company’s stock worth $698,000 after buying an additional 163,817 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Chromadex during the 4th quarter worth about $250,000. Wells Fargo & Company MN lifted its stake in shares of Chromadex by 370.4% during the 4th quarter. Wells Fargo & Company MN now owns 51,747 shares of the company’s stock worth $304,000 after buying an additional 40,747 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in shares of Chromadex during the 3rd quarter worth about $128,000. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Chromadex during the 4th quarter worth about $147,000. Institutional investors own 5.80% of the company’s stock.

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About Chromadex

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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