Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200 Day Moving Average – What’s Next?

Shares of Origin Materials, Inc. (NASDAQ:ORGNGet Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.24 and traded as low as $0.99. Origin Materials shares last traded at $0.99, with a volume of 648,990 shares.

Wall Street Analysts Forecast Growth

Separately, Bank of America lowered Origin Materials from a “buy” rating to an “underperform” rating and cut their price objective for the company from $2.50 to $1.50 in a research report on Tuesday, January 14th.

Read Our Latest Analysis on Origin Materials

Origin Materials Trading Down 2.0 %

The firm has a market cap of $144.79 million, a P/E ratio of -1.74 and a beta of 0.92. The stock has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.24.

Insider Activity at Origin Materials

In other news, General Counsel Joshua C. Lee sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $1.02, for a total transaction of $25,500.00. Following the transaction, the general counsel now owns 629,785 shares of the company’s stock, valued at approximately $642,380.70. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Riley purchased 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $1.00 per share, for a total transaction of $300,000.00. Following the acquisition, the chief executive officer now directly owns 749,083 shares in the company, valued at $749,083. This trade represents a 66.80 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 309,525 shares of company stock valued at $358,045 over the last 90 days. 17.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Origin Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its holdings in Origin Materials by 464.0% during the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 23,200 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Origin Materials during the second quarter valued at approximately $31,000. Capstone Wealth Management LLC purchased a new stake in shares of Origin Materials in the fourth quarter worth approximately $50,000. FNY Investment Advisers LLC bought a new stake in shares of Origin Materials during the 4th quarter worth approximately $67,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Origin Materials during the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.

About Origin Materials

(Get Free Report)

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.

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