Short Interest in Origin Materials, Inc. (NASDAQ:ORGN) Increases By 72.4%

Origin Materials, Inc. (NASDAQ:ORGN) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 7,108,635 shares, an increase of 72.4% from the December 15th total of 4,123,860 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 3,981,746 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 3,981,746 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.8% of the company’s stock are short sold.

Origin Materials Trading Down 3.4%

NASDAQ ORGN traded down $0.01 during trading hours on Friday, reaching $0.20. 2,075,051 shares of the company traded hands, compared to its average volume of 2,478,037. The stock has a market capitalization of $29.50 million, a PE ratio of -0.42 and a beta of 0.97. Origin Materials has a 12 month low of $0.19 and a 12 month high of $1.12. The company has a 50 day moving average of $0.35 and a two-hundred day moving average of $0.52.

Origin Materials (NASDAQ:ORGN) last issued its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). Origin Materials had a negative net margin of 275.03% and a negative return on equity of 21.95%. The company had revenue of $4.66 million during the quarter, compared to analyst estimates of $29.10 million. On average, equities research analysts anticipate that Origin Materials will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Origin Materials in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Origin Materials has a consensus rating of “Sell”.

Insider Buying and Selling at Origin Materials

In other news, CFO Matthew T. Plavan sold 150,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $0.55, for a total value of $82,500.00. Following the completion of the sale, the chief financial officer owned 1,360,231 shares of the company’s stock, valued at $748,127.05. This represents a 9.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 367,200 shares of company stock valued at $133,272 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in shares of Origin Materials by 21.7% during the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 19,950 shares in the last quarter. Ameriprise Financial Inc. increased its stake 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 valued at $36,000 after purchasing an additional 39,856 shares during the last quarter. Virtu Financial LLC bought a new stake in Origin Materials during the third quarter valued at $39,000. Geode Capital Management LLC raised its holdings in shares of Origin Materials by 13.0% during the second quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 196,050 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Origin Materials by 4.1% during the third quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock worth $2,882,000 after purchasing an additional 220,421 shares during the period. Institutional investors and hedge funds own 29.91% of the company’s stock.

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.