Chromadex (CDXC) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Chromadex (NASDAQ:CDXC) from a hold rating to a sell rating in a research note issued to investors on Monday.

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. “

CDXC has been the topic of a number of other research reports. BidaskClub lowered Chromadex from a buy rating to a hold rating in a research report on Tuesday, January 16th. HC Wainwright set a $8.00 target price on Chromadex and gave the company a buy rating in a research report on Friday, December 15th. Finally, ValuEngine lowered Chromadex from a hold rating to a sell rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Chromadex currently has a consensus rating of Hold and a consensus target price of $7.50.

Shares of Chromadex (NASDAQ:CDXC) opened at $4.82 on Monday. The company has a market capitalization of $259.30, a P/E ratio of -20.96 and a beta of 1.03. Chromadex has a 52-week low of $2.26 and a 52-week high of $7.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.03 and a quick ratio of 4.12.

In related news, major shareholder River Ventures Ltd Champion purchased 731,707 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was bought at an average cost of $4.10 per share, with a total value of $2,999,998.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frank L. Jaksch, Jr. sold 28,379 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $6.52, for a total value of $185,031.08. The disclosure for this sale can be found here. 11.59% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in CDXC. Goldman Sachs Group Inc. lifted its holdings in Chromadex by 870.6% in the second quarter. Goldman Sachs Group Inc. now owns 182,633 shares of the company’s stock valued at $698,000 after acquiring an additional 163,817 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Chromadex in the fourth quarter valued at approximately $250,000. Wells Fargo & Company MN lifted its holdings in Chromadex by 370.4% in the fourth quarter. Wells Fargo & Company MN now owns 51,747 shares of the company’s stock valued at $304,000 after acquiring an additional 40,747 shares during the period. Thompson Davis & CO. Inc. acquired a new position in Chromadex in the third quarter valued at approximately $128,000. Finally, Cetera Advisor Networks LLC acquired a new position in Chromadex in the fourth quarter valued at approximately $147,000. 5.80% of the stock is owned by institutional investors.

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About Chromadex

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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