Wall Street Zen Upgrades Origin Materials (NASDAQ:ORGN) to “Sell”

Origin Materials (NASDAQ:ORGN) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Origin Materials Stock Performance

ORGN stock opened at $2.87 on Friday. Origin Materials has a 52 week low of $2.71 and a 52 week high of $28.49. The stock has a market cap of $433.80 million, a P/E ratio of -6.11 and a beta of 0.99. The firm has a 50 day simple moving average of $4.93 and a 200 day simple moving average of $10.98.

Hedge Funds Weigh In On Origin Materials

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Origin Materials by 756.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock valued at $257,000 after buying an additional 1,073,163 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Origin Materials by 848.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 557,747 shares in the last quarter. Vanguard Group Inc. raised its stake in Origin Materials by 4.1% during the third quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock worth $2,882,000 after acquiring an additional 220,421 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Origin Materials by 13.0% during 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 acquiring an additional 196,050 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings 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 period. 29.91% of the stock is owned by institutional investors and hedge funds.

Origin Materials Company Profile

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.