Origin Materials (NASDAQ:ORGN) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Origin Materials, Inc. (NASDAQ:ORGN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.48 and traded as low as $0.1637. Origin Materials shares last traded at $0.1688, with a volume of 1,899,912 shares.

Analyst Upgrades and Downgrades

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

Origin Materials Stock Up 5.2%

The firm has a market cap of $25.51 million, a P/E ratio of -0.36 and a beta of 0.98. The stock’s 50-day moving average is $0.27 and its 200-day moving average is $0.48.

Origin Materials (NASDAQ:ORGN) last issued its quarterly earnings results on Thursday, November 13th. The financial services provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $4.66 million during the quarter, compared to the consensus estimate of $29.10 million. Origin Materials had a negative net margin of 275.03% and a negative return on equity of 21.95%. As a group, analysts expect that Origin Materials, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Origin Materials by 112.2% during the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after buying an additional 39,856 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Origin Materials in the 3rd quarter valued at $39,000. Osaic Holdings Inc. lifted its holdings in shares of Origin Materials by 21.7% during the 2nd 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 during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Origin Materials by 848.8% during the 3rd 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. Finally, Geode Capital Management LLC boosted its position in shares of Origin Materials by 13.0% during 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 acquiring an additional 196,050 shares in the last quarter. 29.91% of the stock is currently owned by institutional investors and hedge funds.

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.