Origin Materials (NASDAQ:ORGN) Shares Cross Above 50-Day Moving Average - Here's Why

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.21 and traded as high as $1.23. Origin Materials shares last traded at $1.15, with a volume of 2,924,401 shares changing hands.

Origin Materials Trading Up 11.3 %

The stock's fifty day moving average price is $1.20 and its 200 day moving average price is $1.21. The stock has a market cap of $187.20 million, a P/E ratio of -2.25 and a beta of 0.95.

Insider Buying and Selling

In other news, General Counsel Joshua C. Lee sold 47,625 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $1.08, for a total value of $51,435.00. Following the completion of the sale, the general counsel now owns 429,785 shares of the company's stock, valued at approximately $464,167.80. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Bissell sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $1.00, for a total value of $55,000.00. Following the transaction, the chief executive officer now owns 1,976,230 shares in the company, valued at approximately $1,976,230. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,125 shares of company stock worth $356,365 in the last quarter. 17.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Origin Materials

A number of large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its position in shares of Origin Materials by 337.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider's stock worth $3,620,000 after buying an additional 1,813,047 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Origin Materials in the second quarter worth $155,000. Sanctuary Advisors LLC bought a new stake in Origin Materials in the second quarter valued at $136,000. Virtu Financial LLC purchased a new position in Origin Materials during the 3rd quarter valued at $159,000. Finally, XTX Topco Ltd raised its holdings in Origin Materials by 461.7% in the 3rd quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider's stock worth $169,000 after purchasing an additional 90,096 shares in the last quarter. Institutional investors own 29.91% of the company's stock.

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.