Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200-Day Moving Average – Here’s Why

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.19 and traded as low as $1.05. Origin Materials shares last traded at $1.09, with a volume of 3,053,670 shares.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised Origin Materials from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.35 to $3.00 in a report on Friday, August 16th.

Origin Materials Price Performance

The firm has a 50 day simple moving average of $1.45 and a 200-day simple moving average of $1.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.48 and a current ratio of 13.57.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $7.03 million for the quarter. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 20.63%. Equities analysts anticipate that Origin Materials, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at Origin Materials

In related news, CFO Matthew T. Plavan sold 120,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $1.32, for a total transaction of $158,400.00. Following the transaction, the chief financial officer now owns 1,223,088 shares in the company, valued at $1,614,476.16. This represents a 8.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 120,400 shares of company stock valued at $159,006 in the last three months. 17.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ORGN. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Origin Materials during the second quarter worth $31,000. US Bancorp DE increased its position in Origin Materials by 464.0% in the third 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 period. Moss Adams Wealth Advisors LLC bought a new stake in Origin Materials during the 2nd quarter worth about $45,000. Point72 DIFC Ltd acquired a new position in Origin Materials during the 2nd quarter valued at about $50,000. Finally, AQR Capital Management LLC boosted its stake in shares of Origin Materials by 352.9% in the 2nd quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 77,119 shares during the last quarter. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Company Profile

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.