Chromadex Corp (OTCMKTS:CDXC) Earns “Buy” Rating from HC Wainwright
Chromadex Corp (OTCMKTS:CDXC)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued on Friday. They currently have a $5.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 71.82% from the company’s previous close.
The analysts wrote, “We note that the company’s revenues came in at $5.3M vs. our original forecast of $8M, while a net loss of $2.7M or $0.07 per share was also recorded vs. our projection for a positive EPS of $0.04. While R&D spending in the quarter was roughly in-line with our estimate at $728K vs. $700K, we note that COGS were slightly worse than our estimate, coming in at 57% vs. our projection of 49%. Given what we see as the current status of ChromaDex’s ingredients business, we have revised our 2017 revenue number to $24.3M, while we now project a net loss per share for 2017 of $0.14 vs. our prior forecast for EPS of $0.16 for the year.””
Several other equities analysts also recently commented on CDXC. ValuEngine raised shares of Chromadex Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Chromadex Corp from a “hold” rating to a “sell” rating in a report on Monday, July 17th.
Chromadex Corp (OTCMKTS CDXC) opened at 2.91 on Friday. The firm’s market cap is $115.79 million. Chromadex Corp has a 52-week low of $2.25 and a 52-week high of $4.55. The firm’s 50-day moving average price is $3.52 and its 200 day moving average price is $3.08.
In related news, major shareholder Step Holdings Ltd Pioneer bought 2,521,526 shares of the stock in a transaction dated Wednesday, May 24th. The shares were purchased at an average price of $2.60 per share, with a total value of $6,555,967.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC boosted 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. Bank of Montreal Can acquired a new stake in shares of Chromadex Corp during the second quarter valued at $168,000. LMR Partners LLP acquired a new stake in shares of Chromadex Corp during the second quarter valued at $347,000. North Star Investment Management Corp. boosted its stake in shares of Chromadex Corp by 78.9% in the second 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 in the last quarter. Finally, Tieton Capital Management LLC acquired a new stake in shares of Chromadex Corp during the first quarter valued at $1,853,000.
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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