Origin Materials (NASDAQ:ORGN) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Origin Materials, Inc. (NASDAQ:ORGN) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.73 and traded as low as $1.40. Origin Materials shares last traded at $1.40, with a volume of 61,720 shares.

Analyst Ratings Changes

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

Origin Materials Stock Down 6.0%

The business has a fifty day moving average of $2.05 and a 200 day moving average of $5.73. The firm has a market cap of $7.70 million, a P/E ratio of -0.03 and a beta of 1.26. The company has a quick ratio of 2.62, a current ratio of 2.66 and a debt-to-equity ratio of 0.09.

Origin Materials (NASDAQ:ORGN) last released its quarterly earnings data 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 company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $29.10 million. Origin Materials had a negative net margin of 1,742.04% and a negative return on equity of 120.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Origin Materials in the fourth quarter valued at about $26,000. Renaissance Technologies LLC grew its stake in Origin Materials by 756.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 1,073,163 shares during the period. Goldman Sachs Group Inc. grew its stake in 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 valued at $59,000 after acquiring an additional 171,105 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in 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 acquiring an additional 557,747 shares during the period. Finally, Virtu Financial LLC acquired a new position in Origin Materials in the third quarter valued at about $39,000. 29.91% of the stock is owned by institutional investors and hedge funds.

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.