Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200-Day Moving Average – Here’s Why

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.51 and traded as low as $0.2021. Origin Materials shares last traded at $0.2120, with a volume of 1,057,742 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Origin Materials currently has a consensus rating of “Sell”.

Origin Materials Trading Up 4.6%

The firm has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.51. The firm has a market cap of $32.04 million, a price-to-earnings ratio of -0.45 and a beta of 0.97.

Origin Materials (NASDAQ:ORGN) last posted its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The business had revenue of $4.66 million for the quarter, compared to analysts’ expectations of $29.10 million. Origin Materials had a negative net margin of 275.03% and a negative return on equity of 21.95%. As a group, equities analysts expect that Origin Materials, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Origin Materials

In related news, CFO Matthew T. Plavan sold 150,000 shares of Origin Materials stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $0.55, for a total transaction of $82,500.00. Following the completion of the transaction, the chief financial officer directly owned 1,360,231 shares in the company, valued at $748,127.05. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 379,200 shares of company stock worth $135,672. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Origin Materials

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in shares of Origin Materials by 21.7% in the second quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 19,950 shares during the last quarter. Ameriprise Financial Inc. increased its position in Origin Materials by 112.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 39,856 shares in the last quarter. Virtu Financial LLC purchased a new stake in Origin Materials during the 3rd quarter worth about $39,000. Geode Capital Management LLC raised its stake in Origin Materials by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 196,050 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Origin Materials by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after purchasing an additional 220,421 shares in the last quarter. Hedge funds and other institutional investors own 29.91% of the company’s stock.

About Origin Materials

Origin Materials, Inc is a cleantech company focused on producing sustainable chemicals and materials from renewable biomass rather than fossil feedstocks. The company’s core technology platform converts wood chips and other lignocellulosic feedstocks into a versatile intermediate called CMF (chloromethylfurfural), which can be further processed into a range of building‐block chemicals used in applications such as packaging, coatings and performance fibers. By offering a drop‐in alternative to petrochemical precursors, Origin Materials aims to reduce carbon emissions and environmental impact across multiple industries.

The company operates a demonstration facility in Sarnia, Ontario, where it validates its conversion process at scale and produces sample volumes of bio‐based intermediates.