ChromaDex Co. (NASDAQ:CDXC) Sees Large Growth in Short Interest

ChromaDex Co. (NASDAQ:CDXC) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,110,000 shares, an increase of 6.0% from the January 15th total of 1,990,000 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 624,900 shares, the short-interest ratio is presently 3.4 days.

Wall Street Analyst Weigh In

CDXC has been the subject of several research reports. HC Wainwright increased their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com cut shares of ChromaDex from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 15th. Finally, Roth Mkm lifted their price target on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

Insider Activity

In other news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the completion of the transaction, the director now directly owns 244,179 shares in the company, valued at approximately $1,511,468.01. This represents a 13.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On ChromaDex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of ChromaDex by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,154,778 shares of the company’s stock valued at $6,128,000 after buying an additional 5,186 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in ChromaDex by 1,785.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,011,290 shares of the company’s stock valued at $5,365,000 after acquiring an additional 957,665 shares during the period. Renaissance Technologies LLC grew its position in ChromaDex by 68.0% in the 4th quarter. Renaissance Technologies LLC now owns 712,788 shares of the company’s stock valued at $3,781,000 after acquiring an additional 288,588 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in ChromaDex by 288.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 662,956 shares of the company’s stock worth $3,517,000 after purchasing an additional 492,148 shares during the period. Finally, State Street Corp increased its stake in ChromaDex by 11.3% in the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after purchasing an additional 62,692 shares during the period. Hedge funds and other institutional investors own 15.41% of the company’s stock.

ChromaDex Trading Up 5.2 %

NASDAQ:CDXC traded up $0.29 during midday trading on Monday, hitting $5.87. 541,889 shares of the company traded hands, compared to its average volume of 312,324. The firm has a market capitalization of $448.35 million, a P/E ratio of 587.59 and a beta of 2.21. The firm’s fifty day moving average is $5.69 and its 200-day moving average is $4.90. ChromaDex has a 12-month low of $1.48 and a 12-month high of $7.97.

About ChromaDex

ChromaDex Corporation operates as a bioscience company focusing on developing healthy aging products. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers and distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.