Point72 DIFC Ltd Invests $50,000 in Origin Materials, Inc. (NASDAQ:ORGN)

Point72 DIFC Ltd acquired a new stake in Origin Materials, Inc. (NASDAQ:ORGN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 55,921 shares of the financial services provider’s stock, valued at approximately $50,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Origin Materials by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider’s stock valued at $3,009,000 after buying an additional 48,889 shares during the last quarter. Janus Henderson Group PLC grew its stake in Origin Materials by 28.1% during the 1st quarter. Janus Henderson Group PLC now owns 240,378 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 52,701 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Origin Materials by 12.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,853,083 shares of the financial services provider’s stock valued at $945,000 after acquiring an additional 203,099 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Origin Materials by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 395,588 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC acquired a new position in shares of Origin Materials during the 2nd quarter worth approximately $45,000. 29.91% of the stock is owned by institutional investors and hedge funds.

Origin Materials Stock Up 4.5 %

NASDAQ ORGN opened at $1.62 on Friday. The business’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $1.00. The company has a quick ratio of 13.48, a current ratio of 13.57 and a debt-to-equity ratio of 0.01. The firm has a market cap of $238.18 million, a PE ratio of -162,000.00 and a beta of 0.99. Origin Materials, Inc. has a 52 week low of $0.44 and a 52 week high of $1.90.

Origin Materials (NASDAQ:ORGN) last posted its earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $7.03 million during the quarter. Origin Materials had a negative net margin of 37.93% and a negative return on equity of 14.10%. As a group, equities analysts anticipate that Origin Materials, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

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

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.