Renaissance Technologies LLC Has $1.48 Million Stock Position in Origin Materials, Inc. (NASDAQ:ORGN)

Renaissance Technologies LLC lifted its stake in shares of Origin Materials, Inc. (NASDAQ:ORGN) by 193.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,153,200 shares of the financial services provider’s stock after buying an additional 760,700 shares during the period. Renaissance Technologies LLC owned about 0.79% of Origin Materials worth $1,476,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. StoneX Group Inc. bought a new position in Origin Materials in the fourth quarter valued at about $35,000. Capstone Wealth Management LLC bought a new position in Origin Materials in the 4th quarter valued at approximately $50,000. FNY Investment Advisers LLC acquired a new stake in Origin Materials during the 4th quarter worth approximately $67,000. Arete Wealth Advisors LLC grew its holdings in Origin Materials by 21.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 90,013 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 16,050 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Origin Materials in the 3rd quarter valued at approximately $159,000. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Trading Down 2.9 %

Shares of ORGN stock opened at $0.74 on Tuesday. Origin Materials, Inc. has a 1-year low of $0.42 and a 1-year high of $1.90. The stock has a market cap of $109.93 million, a price-to-earnings ratio of -1.29 and a beta of 0.99. The stock has a 50-day moving average of $0.74 and a 200-day moving average of $1.00.

Origin Materials (NASDAQ:ORGN) last released its quarterly earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. The firm had revenue of $9.22 million during the quarter, compared to analyst estimates of $9.08 million. Sell-side analysts forecast that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Analyst Ratings Changes

Separately, Bank of America lowered shares of Origin Materials from a “buy” rating to an “underperform” rating and cut their price target for the stock from $2.50 to $1.50 in a report on Tuesday, January 14th.

About Origin Materials

Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.