Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Up 32.9% in February

Origin Materials, Inc. (NASDAQ:ORGN) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 7,097,175 shares, a growth of 32.9% from the February 12th total of 5,341,866 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average trading volume of 1,475,461 shares, the days-to-cover ratio is currently 4.8 days. Based on an average trading volume of 1,475,461 shares, the days-to-cover ratio is currently 4.8 days. Currently, 4.8% of the shares of the stock are short sold.

Origin Materials Stock Down 2.0%

Origin Materials stock opened at $0.12 on Tuesday. The firm has a market capitalization of $17.90 million, a PE ratio of -0.25 and a beta of 1.00. Origin Materials has a 52 week low of $0.11 and a 52 week high of $0.95. The firm’s 50-day simple moving average is $0.17 and its 200 day simple moving average is $0.38.

Origin Materials shares are set 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.

Institutional Investors Weigh In On Origin Materials

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Origin Materials during the fourth quarter worth $26,000. Ameriprise Financial Inc. raised its holdings in shares of Origin Materials by 112.2% in the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 39,856 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Origin Materials in the third quarter valued at $39,000. Osaic Holdings Inc. lifted its position 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 valued at $54,000 after acquiring an additional 19,950 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Origin Materials by 157.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 171,105 shares during the last quarter. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.