Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Up 72.4% in December

by · The Markets Daily

Origin Materials, Inc. (NASDAQ:ORGN – Get Free Report) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 7,108,635 shares, an increase of 72.4% from the December 15th total of 4,123,860 shares. Based on an average daily volume of 3,981,746 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.8% of the company’s stock are short sold. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 3,981,746 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Origin Materials has a consensus rating of “Sell”.

Check Out Our Latest Research Report on Origin Materials

Origin Materials Stock Down 3.4%

NASDAQ:ORGN traded down $0.01 during midday trading on Friday, reaching $0.20. The stock had a trading volume of 2,075,051 shares, compared to its average volume of 2,478,037. The stock has a market cap of $29.50 million, a P/E ratio of -0.42 and a beta of 0.97. The firm has a fifty day simple moving average of $0.35 and a two-hundred day simple moving average of $0.52. Origin Materials has a 12-month low of $0.19 and a 12-month high of $1.12.

Origin Materials (NASDAQ:ORGN – Get Free Report) last released its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The firm had revenue of $4.66 million during the quarter, compared to analyst estimates of $29.10 million. Origin Materials had a negative return on equity of 21.95% and a negative net margin of 275.03%. On average, sell-side analysts anticipate that Origin Materials will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Origin Materials

In other news, CFO Matthew T. Plavan sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $0.55, for a total transaction of $82,500.00. Following the completion of the sale, the chief financial officer owned 1,360,231 shares in the company, valued at approximately $748,127.05. The trade was a 9.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 367,200 shares of company stock worth $133,272. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Origin Materials

A number of institutional investors have recently added to or reduced their stakes in ORGN. Vanguard Group Inc. increased its position 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 purchasing an additional 220,421 shares during the period. Geode Capital Management LLC boosted its stake in shares of Origin Materials by 13.0% in the second 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Origin Materials by 848.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 557,747 shares during the period. Osaic Holdings Inc. raised 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 worth $54,000 after acquiring an additional 19,950 shares in the last quarter. Finally, Ameriprise Financial Inc. raised 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 worth $36,000 after acquiring an additional 39,856 shares in the last quarter. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Origin Materials Company Profile

(Get Free Report)

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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