Origin Materials (NASDAQ:ORGN) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.23 and traded as low as $0.84. Origin Materials shares last traded at $0.85, with a volume of 622,701 shares changing hands.

Analysts Set New Price Targets

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

Origin Materials Trading Down 0.9 %

The firm's 50-day moving average price is $0.99 and its 200-day moving average price is $1.22. The stock has a market capitalization of $118.61 million, a PE ratio of -1.42 and a beta of 0.88.

Insider Buying and Selling at Origin Materials

In related news, CEO John Bissell sold 55,000 shares of the company's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $1.00, for a total transaction of $55,000.00. Following the transaction, the chief executive officer now directly owns 1,976,230 shares in the company, valued at approximately $1,976,230. This represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Joshua C. Lee sold 25,000 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $1.02, for a total transaction of $25,500.00. Following the completion of the sale, the general counsel now directly owns 629,785 shares of the company's stock, valued at approximately $642,380.70. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,525 shares of company stock worth $199,645 over the last ninety days. Company insiders own 17.49% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC purchased a new stake in shares of Origin Materials during the fourth quarter valued at $34,000. StoneX Group Inc. bought a new stake in Origin Materials during the 4th quarter valued at about $35,000. Barclays PLC boosted its position in Origin Materials by 3,019,800.0% in the 4th quarter. Barclays PLC now owns 30,199 shares of the financial services provider's stock valued at $39,000 after buying an additional 30,198 shares during the period. US Bancorp DE grew its stake in Origin Materials by 464.0% in the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider's stock worth $43,000 after acquiring an additional 23,200 shares in the last quarter. Finally, Capstone Wealth Management LLC purchased a new position in shares of Origin Materials during the fourth quarter worth approximately $50,000. 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.