Chromadex (NASDAQ:CDXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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. “

Several other brokerages have also commented on CDXC. B. Riley started coverage on Chromadex in a research report on Thursday, February 14th. They set a “buy” rating and a $7.00 price objective on the stock. HC Wainwright set a $6.00 price objective on Chromadex and gave the company a “buy” rating in a research report on Monday, December 10th. Finally, ValuEngine upgraded Chromadex from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Chromadex has a consensus rating of “Hold” and a consensus target price of $6.00.

Shares of Chromadex stock opened at $4.27 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.96 and a current ratio of 2.53. Chromadex has a 12 month low of $2.79 and a 12 month high of $5.00.

Chromadex (NASDAQ:CDXC) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $9.07 million for the quarter, compared to the consensus estimate of $9.21 million. Chromadex had a negative net margin of 105.57% and a negative return on equity of 90.20%. As a group, equities research analysts expect that Chromadex will post -0.35 earnings per share for the current year.

In related news, Director Stephen A. Block sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.52, for a total transaction of $35,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kevin M. Farr purchased 6,725 shares of Chromadex stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $3.99 per share, for a total transaction of $26,832.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 17,425 shares of company stock worth $65,726. 10.26% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CDXC. Resources Investment Advisors Inc. grew its position in Chromadex by 125.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 9,000 shares of the company’s stock worth $31,000 after acquiring an additional 5,000 shares during the last quarter. Rhumbline Advisers grew its position in Chromadex by 53.3% during the 4th quarter. Rhumbline Advisers now owns 48,511 shares of the company’s stock worth $166,000 after acquiring an additional 16,863 shares during the last quarter. Citadel Advisors LLC grew its position in Chromadex by 160.5% during the 3rd quarter. Citadel Advisors LLC now owns 44,336 shares of the company’s stock worth $190,000 after acquiring an additional 27,315 shares during the last quarter. Sargent Investment Group LLC bought a new position in Chromadex during the 4th quarter worth approximately $355,000. Finally, Bank of New York Mellon Corp grew its position in Chromadex by 23.4% during the 4th quarter. Bank of New York Mellon Corp now owns 128,810 shares of the company’s stock worth $442,000 after acquiring an additional 24,408 shares during the last quarter. Institutional investors and hedge funds own 17.24% of the company’s stock.

Chromadex Company Profile

ChromaDex Corporation operates as a nutraceutical company. The company offers Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide (NAD) level used for healthy aging; and Immulina, a spirulina extract and compound, which is used for improving human immune function.

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