Chromadex Corp (CDXC) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Chromadex Corp (OTCMKTS:CDXC) from a hold rating to a strong sell rating in a report issued on Tuesday.

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. “

Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Chromadex Corp from a hold rating to a sell rating in a research report on Friday, June 30th. HC Wainwright set a $5.00 target price on shares of Chromadex Corp and gave the company a buy rating in a research report on Friday, August 11th.

Chromadex Corp (OTCMKTS CDXC) opened at 3.36 on Tuesday. Chromadex Corp has a 1-year low of $2.25 and a 1-year high of $4.55. The stock’s market cap is $154.87 million. The company has a 50-day moving average of $3.44 and a 200 day moving average of $3.10.

Chromadex Corp (OTCMKTS:CDXC) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.04 by $0.09. The firm had revenue of $5.31 million for the quarter, compared to analyst estimates of $11 million. Chromadex Corp had a negative net margin of 43.35% and a negative return on equity of 79.98%. Analysts predict that Chromadex Corp will post ($0.14) EPS for the current year.

In other Chromadex Corp news, insider Robert N. Fried purchased 10,000 shares of Chromadex Corp stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $3.15 per share, with a total value of $31,500.00. Following the completion of the transaction, the insider now owns 583,241 shares of the company’s stock, valued at $1,837,209.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 acquired at an average cost of $2.60 per share, for a total transaction of $6,555,967.60. The disclosure for this purchase can be found here.

Hedge funds have recently modified their holdings of the company. Tieton Capital Management LLC acquired a new stake in shares of Chromadex Corp during the first quarter valued at about $1,853,000. 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 about $168,000. 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, LMR Partners LLP acquired a new stake in shares of Chromadex Corp during the second quarter valued at about $347,000.

About Chromadex Corp

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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