Chromadex Corp (OTCMKTS:CDXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, July 17th.
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 recently weighed in on CDXC. ValuEngine upgraded Chromadex Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. HC Wainwright set a $6.00 target price on Chromadex Corp and gave the stock a “buy” rating in a report on Monday, March 20th.
Shares of Chromadex Corp (OTCMKTS CDXC) traded up 1.31% during midday trading on Monday, reaching $3.10. The company’s stock had a trading volume of 132,687 shares. Chromadex Corp has a one year low of $2.25 and a one year high of $4.55. The stock’s 50 day moving average price is $3.60 and its 200 day moving average price is $3.07. The firm’s market cap is $123.35 million.
In other news, major shareholder Step Holdings Ltd Pioneer purchased 2,521,526 shares of Chromadex Corp 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 SEC, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in CDXC. Segall Bryant & Hamill LLC raised its stake in 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 during the last quarter. Bank of Montreal Can purchased a new stake in Chromadex Corp during the second quarter valued at approximately $168,000. LMR Partners LLP purchased a new stake in Chromadex Corp during the second quarter valued at approximately $347,000. North Star Investment Management Corp. raised its stake in 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 during the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in Chromadex Corp during the first quarter valued at approximately $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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