Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Update

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 5,520,000 shares, a decline of 24.2% from the March 15th total of 7,280,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the short-interest ratio is presently 3.9 days. Approximately 4.0% of the company's stock are sold short.

Institutional Trading of Origin Materials

Large investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in shares of Origin Materials by 59.2% in the fourth quarter. Millennium Management LLC now owns 2,021,132 shares of the financial services provider's stock worth $2,587,000 after acquiring an additional 751,632 shares during the last quarter. Geode Capital Management LLC increased its position in Origin Materials by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider's stock worth $2,290,000 after purchasing an additional 87,751 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Origin Materials by 193.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider's stock valued at $1,476,000 after purchasing an additional 760,700 shares during the last quarter. Cresset Asset Management LLC boosted its position in Origin Materials by 11.0% in the fourth quarter. Cresset Asset Management LLC now owns 1,095,141 shares of the financial services provider's stock valued at $1,402,000 after buying an additional 108,480 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Origin Materials during the fourth quarter worth $783,000. 29.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Bank of America downgraded Origin Materials from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $2.50 to $1.50 in a research report on Tuesday, January 14th.

Origin Materials Stock Performance

Shares of ORGN stock traded up $0.08 during trading on Thursday, hitting $0.85. The company had a trading volume of 1,304,275 shares, compared to its average volume of 1,540,987. The stock's 50-day moving average price is $0.74 and its 200 day moving average price is $1.02. Origin Materials has a one year low of $0.42 and a one year high of $1.90. The firm has a market capitalization of $126.59 million, a P/E ratio of -1.49 and a beta of 0.99.

Origin Materials (NASDAQ:ORGN - Get Free Report) last released its earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Origin Materials had a negative return on equity of 21.26% and a negative net margin of 229.52%. The firm had revenue of $9.22 million during the quarter, compared to analysts' expectations of $9.08 million. On average, research analysts anticipate that Origin Materials will post -0.6 earnings per share for the current fiscal year.

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.