{"id":85,"date":"2012-05-31T21:56:02","date_gmt":"2012-06-01T01:56:02","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=85"},"modified":"2012-05-31T21:56:02","modified_gmt":"2012-06-01T01:56:02","slug":"chromadex-volume-spikes-as-price-nudges-higher-cdxc","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/chromadex-volume-spikes-as-price-nudges-higher-cdxc-85","title":{"rendered":"ChromaDex Volume Spikes as Price Nudges Higher (CDXC)"},"content":{"rendered":"

The number of shares traded today on ChromaDex (OTCBB: CDXC) far outpaced the average daily volume seen over the last three months. The stock settled up three cents for the day at a closing price of seventy cents. Over one million shares exchanged hands, which quadrupled the daily average of 260,000. Like the rest of the market, ChromaDex began the session on a weak note, dropping seven cents. Two hours later, volume popped along with the price when the stock kissed seventy-two cents, which set the high for the day. ChromaDex shares spent the rest of the trading session moving sideways.<\/p>\n

The morning surge may have been attributed to the announcement that ChromaDex and the Scripps Research institute will collaborate to generate tandem mass spectrometry data for compounds found in ChromaDex natural products. The database can be used by researchers to screen compounds for use in clinical interests such as cancer, diabetes, and Alzheimer\u2019s disease.<\/p>\n

The fifty-two week range for ChromaDex ranges from a high of $1.84 to $0.44, which the stock hit just two weeks ago. During its descent from the top last July, volume remained unspectacular. Volume and price picked up at the beginning of the New Year. Shares have declined nearly sixty percent since the January rally. Over the last two weeks, however, the stock has bounced over twenty-five cents from the May lows.<\/p>\n

ChromaDex provides ingredients to the food, beverage, dietary supplement and cosmetic markets. The company also furnishes the tools necessary for quality control. Its newly released BluScience Dietary Supplements can be found<\/a> in drugstores and pharmacies across the United States.\u00a0 ChromaDex products are also available online from a major retailer. The company faces competition from Bactolac Pharmaceutical and Bluebonnet Nutrition Corporation.<\/p>\n

The Irvine, California business was founded in 1999. Only one analyst follows the stock<\/a>. ChromaDex presently carries an overweight rating. The single analyst estimates the company\u2019s earnings for this fiscal year to be a loss of eight cents.<\/p>\n

In March ChromaDex reported<\/a> a fiscal year loss of twelve cents on sales of over eight million dollars.\u00a0 The company released first quarter results on May 10. The report showed a loss of a nickel compared to an expected loss of three cents. Compared to the previous year revenues for the quarter decreased from $2.5 million to $1.7 million. The stock made a fresh fifty-two week low a few days after the earnings report.<\/p>\n

Other recent company highlights include:<\/p>\n