Chromadex (CDXC) Rating Reiterated by HC Wainwright
Chromadex (NASDAQ:CDXC)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Monday. They currently have a $8.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 128.57% from the stock’s previous close.
The analysts wrote, “Valuation methodology, risks and uncertainties. We apply a 24x EV- to-EBITDA multiple to 2020 EBITDA per share of $0.45, discounted back at 12%, which yields a price objective of approximately $8.00 per share.””
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Chromadex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 24th. BidaskClub cut Chromadex from a “hold” rating to a “sell” rating in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Chromadex presently has an average rating of “Hold” and a consensus price target of $7.50.
Chromadex (NASDAQ:CDXC) last released its earnings results on Thursday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Chromadex had a negative return on equity of 65.33% and a negative net margin of 82.82%. The business had revenue of $7.80 million for the quarter, compared to analysts’ expectations of $7.50 million. research analysts anticipate that Chromadex will post -0.54 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in shares of Chromadex by 31,769.4% during the fourth quarter. Deutsche Bank AG now owns 22,946 shares of the company’s stock worth $134,000 after purchasing an additional 22,874 shares in the last quarter. Rhumbline Advisers bought a new position in Chromadex during the second quarter valued at approximately $118,000. Element Capital Management LLC bought a new position in Chromadex during the first quarter valued at approximately $155,000. GSA Capital Partners LLP bought a new position in Chromadex during the second quarter valued at approximately $193,000. Finally, Northern Trust Corp boosted its stake in Chromadex by 34.4% during the first quarter. Northern Trust Corp now owns 55,902 shares of the company’s stock valued at $235,000 after buying an additional 14,297 shares during the last quarter. Hedge funds and other institutional investors own 16.24% of the company’s stock.
Chromadex Company Profile
ChromaDex Corporation operates as a nutraceutical company. The company offers research and quality control products and services to dietary supplements, food, beverages, cosmetic, and pharmaceutical industries; Nicotinamide riboside (NIAGEN), a novel form of vitamin B3 for enhancing nicotinamide adenine dinucleotide(NAD) level used for healthy aging; Pterostilbene (pTeroPure), a polyphenol and antioxidant used in health related fields; and Immulina, a spirulina extract and compound, which is used for improving human immune function, as well as developing Pterostilbene and caffeine co-crystal ingredients, and anthocyanins ingredients.
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