HC Wainwright set a $5.00 price target on Chromadex Corp (OTCMKTS:CDXC) in a research report report published on Friday morning. The firm currently has a buy rating on the stock.
“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.”,” the firm’s analyst wrote.
Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Chromadex Corp from a hold rating to a sell rating in a research report on Friday, June 30th. Zacks Investment Research downgraded Chromadex Corp from a hold rating to a sell rating in a research report on Monday, July 17th.
Shares of Chromadex Corp (OTCMKTS:CDXC) traded up 11.00% on Friday, hitting $3.23. 313,073 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $3.51 and its 200 day moving average price is $3.08. Chromadex Corp has a 1-year low of $2.25 and a 1-year high of $4.19. The company’s market cap is $148.88 million.
Chromadex Corp (OTCMKTS:CDXC) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Chromadex Corp had a negative net margin of 43.35% and a negative return on equity of 79.98%. The business had revenue of $5.31 million during the quarter, compared to analyst estimates of $11 million. On average, equities research analysts expect that Chromadex Corp will post $0.16 earnings per share for the current year.
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In other Chromadex Corp news, major shareholder Step Holdings Ltd Pioneer purchased 2,521,526 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $6,555,967.60. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC raised its position 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 worth $104,000 after buying an additional 133 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Chromadex Corp during the second quarter worth approximately $168,000. LMR Partners LLP purchased a new position in shares of Chromadex Corp during the second quarter worth approximately $347,000. North Star Investment Management Corp. raised its position 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 worth $1,014,000 after buying an additional 117,000 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new position in shares of Chromadex Corp during the first quarter worth 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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