Origin Materials (NASDAQ:ORGN) Shares Scheduled to Reverse Split on Friday, March 20th

Origin Materials, Inc. (NASDAQ:ORGN)’s stock is scheduled to reverse split before the market opens on Friday, March 20th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 19th.

Origin Materials Stock Performance

Origin Materials stock opened at $0.12 on Monday. Origin Materials has a twelve month low of $0.11 and a twelve month high of $0.95. The firm has a market cap of $18.26 million, a PE ratio of -0.26 and a beta of 1.00. The firm’s 50 day moving average price is $0.18 and its two-hundred day moving average price is $0.38.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Origin Materials presently has an average rating of “Sell”.

Hedge Funds Weigh In On Origin Materials

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Origin Materials during the third quarter worth approximately $39,000. Geode Capital Management LLC raised its position in shares of Origin Materials by 13.0% in the second 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 period. Vanguard Group Inc. lifted its stake in shares of Origin Materials by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock worth $2,882,000 after buying an additional 220,421 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Origin Materials by 848.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after buying an additional 557,747 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Origin Materials by 756.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock worth $257,000 after buying an additional 1,073,163 shares during the period. 29.91% of the stock is owned by institutional investors and hedge funds.

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.