Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Origin Materials, Inc. (NASDAQ:ORGN) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.45 and traded as low as $0.1485. Origin Materials shares last traded at $0.1537, with a volume of 1,160,048 shares changing hands.

Analysts Set New Price Targets

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

Origin Materials Price Performance

The company has a market cap of $23.23 million, a price-to-earnings ratio of -0.33 and a beta of 0.98. The company’s 50-day simple moving average is $0.23 and its 200-day simple moving average is $0.45.

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

Hedge Funds Weigh In On Origin Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Origin Materials during the third quarter valued at about $39,000. Ameriprise Financial Inc. lifted its stake 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 in the last quarter. Osaic Holdings Inc. boosted its holdings 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 purchasing an additional 19,950 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Origin Materials by 157.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 171,105 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Origin Materials by 848.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 557,747 shares during the last quarter. 29.91% of the stock is owned by hedge funds and other institutional investors.

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.