Origin Materials (NASDAQ:ORGN) Shares Pass Below 200 Day Moving Average – Time to Sell?

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.10 and traded as low as $0.8601. Origin Materials shares last traded at $0.8601, with a volume of 69,698 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on ORGN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Origin Materials in a report on Friday, March 27th. Wall Street Zen upgraded Origin Materials from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Origin Materials Price Performance

The company has a market cap of $4.73 million, a price-to-earnings ratio of -0.02 and a beta of 1.12. The company’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $4.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.66 and a quick ratio of 2.62.

Origin Materials (NASDAQ:ORGN) last posted its earnings results on Thursday, May 14th. The financial services provider reported ($3.28) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.88). The firm had revenue of $0.48 million for the quarter, compared to analyst estimates of $29.10 million. Origin Materials had a negative return on equity of 120.66% and a negative net margin of 1,742.04%.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors have recently added to or reduced their stakes in ORGN. XTX Topco Ltd acquired a new stake in shares of Origin Materials during the fourth quarter valued at about $26,000. Renaissance Technologies LLC increased its position 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 worth $257,000 after acquiring an additional 1,073,163 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Origin Materials by 157.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 171,105 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake 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 worth $323,000 after acquiring an additional 557,747 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Origin Materials in the third quarter valued at about $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.