Origin Materials, Inc. (NASDAQ:ORGN – Get Free Report)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.17 and traded as low as $1.21. Origin Materials shares last traded at $1.21, with a volume of 60,583 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ORGN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a research report on Friday, March 27th. Wall Street Zen upgraded Origin Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.
View Our Latest Stock Report on ORGN
Origin Materials Trading Down 5.5%
Origin Materials (NASDAQ:ORGN – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The financial services provider reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 Inflows and Outflows
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 4th quarter worth approximately $26,000. 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. Virtu Financial LLC bought a new stake in Origin Materials in the third quarter valued at $39,000. 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, Goldman Sachs Group Inc. grew its position in Origin Materials by 157.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 171,105 shares during the period. 29.91% of the stock is owned by institutional investors.
About Origin Materials
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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