Origin Materials, Inc. (NASDAQ:ORGN – Get Free Report) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.10 and traded as low as $0.8601. Origin Materials shares last traded at $0.8601, with a volume of 69,698 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Origin Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.
Get Our Latest Stock Analysis on ORGN
Origin Materials Trading Down 3.4%
Origin Materials (NASDAQ:ORGN – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The financial services provider reported ($3.28) earnings per share (EPS) 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 firm had revenue of $0.48 million for the quarter, compared to analyst estimates of $29.10 million.
Institutional Trading of Origin Materials
Several institutional investors have recently added to or reduced their stakes in ORGN. XTX Topco Ltd acquired a new stake in shares of Origin Materials during the fourth quarter worth $26,000. Ameriprise Financial Inc. boosted its holdings in shares of Origin Materials by 112.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock valued at $36,000 after buying an additional 39,856 shares during the period. Virtu Financial LLC acquired a new position in shares of Origin Materials in the 3rd quarter valued at about $39,000. Osaic Holdings Inc. grew its position in shares of Origin Materials by 21.7% during the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after buying an additional 19,950 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 171,105 shares during the last quarter. Institutional investors own 29.91% of the company’s stock.
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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