Origin Materials (NASDAQ:ORGN) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

by · The Markets Daily

Origin Materials, Inc. (NASDAQ:ORGN – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.56 and traded as low as $0.3674. Origin Materials shares last traded at $0.3890, with a volume of 3,699,030 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Origin Materials in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $1.50.

Read Our Latest Stock Report on ORGN

Origin Materials Trading Down 5.8%

The company has a market cap of $58.80 million, a price-to-earnings ratio of -0.83 and a beta of 0.93. The company has a fifty day moving average price of $0.53 and a two-hundred day moving average price of $0.56.

Origin Materials (NASDAQ:ORGN – Get Free Report) last issued its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). Origin Materials had a negative return on equity of 21.95% and a negative net margin of 275.03%.The firm had revenue of $4.66 million during the quarter, compared to the consensus estimate of $29.10 million. Sell-side analysts anticipate that Origin Materials, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity at Origin Materials

In other news, CFO Matthew T. Plavan sold 150,000 shares of Origin Materials stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $0.55, for a total transaction of $82,500.00. Following the sale, the chief financial officer directly owned 1,360,231 shares in the company, valued at approximately $748,127.05. The trade was a 9.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $323,000 after purchasing an additional 557,747 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Origin Materials during the 3rd quarter worth approximately $39,000. Vanguard Group Inc. boosted its stake 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 buying an additional 220,421 shares in the last quarter. Osaic Holdings Inc. grew its position in 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 during the period. Finally, Ameriprise Financial Inc. grew its position in Origin Materials by 112.2% in the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 39,856 shares during the period. Institutional investors own 29.91% of the company’s stock.

Origin Materials Company Profile

(Get Free Report)

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.

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