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

Origin Materials, Inc. (NASDAQ:ORGN) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, Bank of America cut 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 research note on Tuesday, January 14th.

Origin Materials Price Performance

The stock has a 50 day simple moving average of $0.99 and a two-hundred day simple moving average of $1.22. The company has a market cap of $119.69 million, a PE ratio of -1.44 and a beta of 0.88.

Insider Buying and Selling at Origin Materials

In other news, CEO John Bissell sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $1.00, for a total transaction of $55,000.00. Following the completion of the sale, the chief executive officer now owns 1,976,230 shares in the company, valued at $1,976,230. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Joshua C. Lee sold 25,000 shares of the company’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 value of $25,500.00. Following the sale, the general counsel now owns 629,785 shares of the company’s stock, valued at $642,380.70. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,525 shares of company stock worth $199,645. 17.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Origin Materials

Several large investors have recently modified their holdings of ORGN. US Bancorp DE raised its stake 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 purchasing an additional 23,200 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Origin Materials during the third quarter worth approximately $92,000. HighTower Advisors LLC raised its stake 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 purchasing an additional 12,985 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Origin Materials by 337.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after acquiring an additional 1,813,047 shares in the last quarter. Finally, RBF Capital LLC raised its position in Origin Materials by 10.2% in the third quarter. RBF Capital LLC now owns 176,314 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 16,314 shares in the last quarter. Hedge funds and other institutional investors own 29.91% of the company’s stock.

About Origin Materials

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.