Origin Materials, Inc. (NASDAQ:ORGN) CEO Buys $300,000.00 in Stock

Origin Materials, Inc. (NASDAQ:ORGN) CEO Richard J. Riley purchased 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now owns 749,083 shares of the company’s stock, valued at $749,083. This trade represents a 66.80 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Origin Materials Price Performance

Shares of ORGN stock opened at $1.03 on Thursday. The firm’s 50-day moving average is $1.42 and its two-hundred day moving average is $1.19. Origin Materials, Inc. has a 12 month low of $0.44 and a 12 month high of $1.90. The company has a market capitalization of $150.12 million, a PE ratio of -1.81 and a beta of 1.00.

Analysts Set New Price Targets

Separately, Bank of America raised shares of Origin Materials from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1.35 to $3.00 in a research note on Friday, August 16th.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Origin Materials during the third quarter worth about $159,000. Geode Capital Management LLC increased its position in shares of Origin Materials by 6.3% during the third quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock valued at $2,290,000 after acquiring an additional 87,751 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Origin Materials by 20.8% during the third quarter. Public Employees Retirement System of Ohio now owns 154,331 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 26,600 shares during the last quarter. XTX Topco Ltd increased its position in shares of Origin Materials by 461.7% during the third quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 90,096 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Origin Materials by 2.1% in the third quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 10,000 shares in the last quarter. 29.91% of the stock is 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.