Origin Materials, Inc. (NASDAQ:ORGN) CEO Richard J. Riley Buys 300,000 Shares

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) CEO Richard J. Riley bought 300,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $1.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 749,083 shares in the company, valued at approximately $749,083. The trade was a 66.80 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Origin Materials Trading Up 17.0 %

ORGN stock traded up $0.18 during trading on Thursday, hitting $1.21. The company had a trading volume of 3,614,325 shares, compared to its average volume of 1,715,324. The business has a 50 day moving average of $1.42 and a 200 day moving average of $1.19. The firm has a market capitalization of $175.63 million, a price-to-earnings ratio of -2.02 and a beta of 1.00. Origin Materials, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $1.90.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Origin Materials

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Origin Materials by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider's stock worth $3,009,000 after purchasing an additional 48,889 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Origin Materials by 92.5% in the first quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider's stock worth $418,000 after acquiring an additional 395,588 shares during the period. Janus Henderson Group PLC boosted its holdings in Origin Materials by 28.1% in the first quarter. Janus Henderson Group PLC now owns 240,378 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 52,701 shares during the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in Origin Materials during the 2nd quarter valued at approximately $45,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Origin Materials during the 2nd quarter worth approximately $31,000. 29.91% of the stock is currently owned by institutional investors and hedge funds.

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.