Origin Materials (NASDAQ:ORGN – Get Free Report) issued its earnings results on Thursday. The financial services provider reported ($3.28) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.88), Zacks reports. Origin Materials had a negative net margin of 1,319.62% and a negative return on equity of 97.45%.
Origin Materials Stock Performance
NASDAQ:ORGN traded down $0.02 during trading hours on Thursday, reaching $1.23. The company had a trading volume of 537,951 shares, compared to its average volume of 221,837. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.83 and a quick ratio of 2.81. Origin Materials has a 1-year low of $1.23 and a 1-year high of $28.49. The business’s 50 day moving average price is $2.65 and its 200-day moving average price is $7.06. The firm has a market cap of $6.68 million, a PE ratio of -0.02 and a beta of 1.26.
Institutional Trading of Origin Materials
A number of hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in Origin Materials in the fourth quarter valued at $26,000. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 1,073,163 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Origin Materials by 157.3% in 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. Jacobs Levy Equity Management Inc. raised its holdings in Origin Materials by 848.8% in 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 period. Finally, Virtu Financial LLC purchased a new position in Origin Materials during the third quarter worth approximately $39,000. 29.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
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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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