Origin Materials (NASDAQ:ORGN) Stock Crosses Below 200-Day Moving Average – What’s Next?

Origin Materials, Inc. (NASDAQ:ORGN) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.19 and traded as low as $1.05. Origin Materials shares last traded at $1.09, with a volume of 3,053,670 shares traded.

Analyst Upgrades and Downgrades

Separately, Bank of America raised shares of Origin Materials from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $1.35 to $3.00 in a research report on Friday, August 16th.

Origin Materials Stock Down 12.8 %

The firm has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.19. The company has a market capitalization of $158.87 million, a PE ratio of -12.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.57 and a quick ratio of 13.48.

Origin Materials (NASDAQ:ORGN) last announced its earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $7.03 million for the quarter. Origin Materials had a negative net margin of 37.93% and a negative return on equity of 14.10%. On average, research analysts predict that Origin Materials, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, CFO Matthew T. Plavan sold 120,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $1.32, for a total value of $158,400.00. Following the completion of the transaction, the chief financial officer now owns 1,223,088 shares of the company’s stock, valued at approximately $1,614,476.16. This represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 120,400 shares of company stock worth $159,006 over the last 90 days. Company insiders own 17.49% of the company’s stock.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its stake in shares of Origin Materials by 337.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 1,813,047 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Origin Materials by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 395,588 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Origin Materials by 12.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,853,083 shares of the financial services provider’s stock worth $945,000 after purchasing an additional 203,099 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Origin Materials in the 2nd quarter valued at about $155,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Origin Materials during the second quarter worth about $136,000. 29.91% of the stock is owned by institutional investors and hedge funds.

About Origin Materials

Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.