Origin Materials (NASDAQ:ORGN) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Origin Materials, Inc. (NASDAQ:ORGN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.48 and traded as low as $0.1637. Origin Materials shares last traded at $0.1688, with a volume of 1,899,912 shares changing hands.

Analysts Set New Price Targets

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

Origin Materials Trading Up 5.2%

The firm has a 50 day moving average of $0.27 and a two-hundred day moving average of $0.48. The stock has a market capitalization of $25.51 million, a PE ratio of -0.36 and a beta of 0.98.

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

Hedge Funds Weigh In On Origin Materials

Several hedge funds have recently bought and sold shares of ORGN. Geode Capital Management LLC lifted its position in shares of Origin Materials by 13.0% in the second quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after acquiring an additional 196,050 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of 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 buying an additional 39,856 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Origin Materials by 21.7% in the second quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after buying an additional 19,950 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 valued at $2,882,000 after buying an additional 220,421 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Origin Materials during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.

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.