Origin Materials (NASDAQ:ORGN) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Origin Materials, Inc. (NASDAQ:ORGN) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.23 and traded as low as $0.84. Origin Materials shares last traded at $0.85, with a volume of 622,701 shares changing hands.

Analyst Upgrades and Downgrades

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

Origin Materials Trading Down 3.2 %

The stock has a market capitalization of $119.69 million, a PE ratio of -1.44 and a beta of 0.88. The firm’s fifty day moving average is $0.99 and its 200-day moving average is $1.22.

Insiders Place Their Bets

In other Origin Materials news, CEO John Bissell sold 36,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $1.14, for a total transaction of $41,040.00. Following the sale, the chief executive officer now directly owns 1,581,230 shares in the company, valued at $1,802,602.20. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joshua C. Lee sold 25,000 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $1.02, for a total transaction of $25,500.00. Following the sale, the general counsel now owns 629,785 shares in the company, valued at $642,380.70. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,525 shares of company stock worth $199,645 over the last three months. Company insiders own 17.49% of the company’s stock.

Institutional Trading of Origin Materials

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Origin Materials by 2.1% during the third quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock worth $739,000 after buying an additional 10,000 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Origin Materials by 1.3% during the third quarter. HighTower Advisors LLC now owns 1,045,038 shares of the financial services provider’s stock worth $1,608,000 after buying an additional 12,985 shares in the last quarter. Arete Wealth Advisors LLC grew its position in shares of Origin Materials by 21.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 90,013 shares of the financial services provider’s stock worth $115,000 after buying an additional 16,050 shares in the last quarter. RBF Capital LLC grew its position in shares of Origin Materials by 10.2% during the third quarter. RBF Capital LLC now owns 176,314 shares of the financial services provider’s stock worth $272,000 after buying an additional 16,314 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Origin Materials by 464.0% during the third quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock worth $43,000 after buying an additional 23,200 shares in the last quarter. 29.91% of the stock is currently owned by hedge funds and other institutional investors.

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.