Shares of Origin Materials, Inc. (NASDAQ:ORGN – Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.41 and traded as low as $1.4301. Origin Materials shares last traded at $1.53, with a volume of 84,398 shares traded.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ORGN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a report on Friday, March 27th. Wall Street Zen upgraded Origin Materials from a “strong sell” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Origin Materials presently has a consensus rating of “Sell”.
Get Our Latest Analysis on ORGN
Origin Materials Stock Up 2.7%
Origin Materials (NASDAQ:ORGN – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The financial services provider reported ($3.28) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.88). Origin Materials had a negative net margin of 1,742.04% and a negative return on equity of 120.66%. The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $29.10 million.
Institutional Investors Weigh In On Origin Materials
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Origin Materials by 4.1% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Origin Materials by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after buying an additional 196,050 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 buying an additional 557,747 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings 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 worth $59,000 after buying an additional 171,105 shares in the last quarter. 29.91% of the stock is currently owned by 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.
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