Origin Materials (NASDAQ:ORGN) Stock Passes Below 200-Day Moving Average – What’s Next?
by Amy Steele · The Cerbat GemOrigin Materials, Inc. (NASDAQ:ORGN – Get Free Report)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Wall Street Zen raised shares of Origin Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Origin Materials in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on ORGN
Origin Materials Price Performance
The company’s 50 day moving average price is $2.30 and its 200-day moving average price is $6.41. The company has a market cap of $8.31 million, a price-to-earnings ratio of -0.03 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.62 and a current ratio of 2.66.
Origin Materials (NASDAQ:ORGN – Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $0.48 million during the quarter, compared to analyst estimates of $29.10 million. Origin Materials had a negative return on equity of 120.66% and a negative net margin of 1,742.04%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in ORGN. Renaissance Technologies LLC increased its position in shares of Origin Materials by 756.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 1,073,163 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake 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 valued at $323,000 after buying an additional 557,747 shares during the period. Vanguard Group Inc. increased its stake in Origin Materials by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after buying an additional 220,421 shares during the period. Geode Capital Management LLC increased its stake in Origin Materials by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after buying an additional 196,050 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in 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 buying an additional 171,105 shares during the period. 29.91% of the stock is owned by hedge funds and other 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.