Origin Materials (NASDAQ:ORGN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.24 and traded as low as $0.80. Origin Materials shares last traded at $0.84, with a volume of 2,015,879 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Bank of America downgraded Origin Materials from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $2.50 to $1.50 in a research report on Tuesday, January 14th.

Origin Materials Stock Down 3.1 %

The company has a market capitalization of $122.57 million, a price-to-earnings ratio of -1.47 and a beta of 0.89. The company has a 50 day simple moving average of $1.01 and a 200 day simple moving average of $1.24.

Insider Activity

In other Origin Materials news, General Counsel Joshua C. Lee sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $1.02, for a total transaction of $25,500.00. Following the completion of the sale, the general counsel now owns 629,785 shares in the company, valued at $642,380.70. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Bissell sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $1.00, for a total value of $55,000.00. Following the sale, the chief executive officer now owns 1,976,230 shares of the company’s stock, valued at approximately $1,976,230. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,525 shares of company stock worth $199,645. 17.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of Origin Materials by 464.0% in the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 23,200 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Origin Materials in the 3rd quarter valued at approximately $92,000. HighTower Advisors LLC increased its position in Origin Materials by 1.3% in the 3rd quarter. HighTower Advisors LLC now owns 1,045,038 shares of the financial services provider’s stock valued at $1,608,000 after acquiring an additional 12,985 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Origin Materials by 337.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock valued at $3,620,000 after acquiring an additional 1,813,047 shares during the period. Finally, RBF Capital LLC increased its position in Origin Materials by 10.2% in the 3rd quarter. RBF Capital LLC now owns 176,314 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 16,314 shares during the period. Institutional investors own 29.91% of the company’s stock.

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.