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

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.00 and traded as low as $1.40. Origin Materials shares last traded at $1.53, with a volume of 494,177 shares.

Analyst Ratings Changes

ORGN has been the topic of several recent research reports. Wall Street Zen raised shares of Origin Materials to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Origin Materials has an average rating of “Sell”.

Origin Materials Stock Performance

The company has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $8.00. The stock has a market capitalization of $8.31 million, a P/E ratio of -0.03 and a beta of 1.26. The company has a quick ratio of 2.81, a current ratio of 2.83 and a debt-to-equity ratio of 0.04.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings results on Saturday, March 28th. The financial services provider reported ($38.54) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($38.47). Origin Materials had a negative net margin of 1,319.62% and a negative return on equity of 97.45%. The company had revenue of $3.02 million for the quarter, compared to the consensus estimate of $29.10 million.

Institutional Investors Weigh In On Origin Materials

Several hedge funds and other institutional investors have recently modified their holdings of ORGN. XTX Topco Ltd bought a new stake in shares of Origin Materials during the fourth quarter valued at about $26,000. Ameriprise Financial Inc. increased its position in shares of Origin Materials by 112.2% in the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 39,856 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Origin Materials in the third quarter worth approximately $39,000. Osaic Holdings Inc. increased its position in shares of Origin Materials by 21.7% in the second quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 19,950 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 purchasing an additional 171,105 shares during the last quarter. 29.91% of the stock is currently owned by institutional investors.

About Origin Materials

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.