Origin Materials (NASDAQ:ORGN) Rating Increased to Sell at Wall Street Zen

Origin Materials (NASDAQ:ORGN) was upgraded by Wall Street Zen to a “sell” rating in a report issued on Saturday.

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

Origin Materials Stock Down 15.3%

NASDAQ:ORGN opened at $2.87 on Friday. The firm has a market cap of $433.80 million, a PE ratio of -6.11 and a beta of 0.99. Origin Materials has a 12 month low of $2.71 and a 12 month high of $28.49. The company’s 50-day moving average price is $4.93 and its two-hundred day moving average price is $10.98.

Institutional Investors Weigh In On Origin Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORGN. XTX Topco Ltd bought a new position in shares of Origin Materials in the fourth quarter worth about $26,000. Renaissance Technologies LLC grew its stake in shares of Origin Materials by 756.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 1,073,163 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Origin Materials by 157.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 171,105 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Origin Materials by 848.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 557,747 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Origin Materials in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Company Profile

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.