Origin Materials (NASDAQ:ORGN) Stock Passes Below 200-Day Moving Average – Time to Sell?

Origin Materials, Inc. (NASDAQ:ORGN) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.17 and traded as low as $1.21. Origin Materials shares last traded at $1.21, with a volume of 60,583 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ORGN. Wall Street Zen upgraded Origin Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Origin Materials in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Origin Materials Price Performance

The company has a quick ratio of 2.62, a current ratio of 2.66 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $6.66 million, a P/E ratio of -0.03 and a beta of 1.12. The business has a 50 day simple moving average of $1.82 and a 200-day simple moving average of $5.17.

Origin Materials (NASDAQ:ORGN) last issued its quarterly earnings results 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 business had revenue of $0.48 million for the quarter, compared to analyst estimates 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 large investors have recently modified their holdings of ORGN. XTX Topco Ltd acquired a new position in Origin Materials during the fourth quarter worth about $26,000. Ameriprise Financial Inc. grew its holdings in Origin Materials by 112.2% during the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 39,856 shares during the period. Virtu Financial LLC acquired a new position in Origin Materials during the third quarter worth about $39,000. Osaic Holdings Inc. grew its holdings in Origin Materials by 21.7% during the second quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 19,950 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Origin Materials by 157.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 171,105 shares during the period. 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.