Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.07 and traded as low as $0.53. Origin Materials shares last traded at $0.56, with a volume of 678,000 shares traded.

Analyst Ratings Changes

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

Origin Materials Stock Down 1.9 %

The firm has a market capitalization of $92.60 million, a price-to-earnings ratio of -1.09 and a beta of 0.99. The company's 50 day moving average price is $0.77 and its 200 day moving average price is $1.06.

Origin Materials (NASDAQ:ORGN - Get Free Report) last issued its earnings results on Thursday, March 13th. The financial services provider reported ($0.09) EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $9.08 million. As a group, analysts expect that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

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Institutional Trading of Origin Materials

A number of hedge funds have recently bought and sold shares of ORGN. Millennium Management LLC boosted its holdings in Origin Materials by 59.2% during the 4th quarter. Millennium Management LLC now owns 2,021,132 shares of the financial services provider's stock valued at $2,587,000 after acquiring an additional 751,632 shares during the period. Geode Capital Management LLC raised its holdings in Origin Materials by 6.3% during the third 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 raised its position in Origin Materials by 193.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider's stock worth $1,476,000 after acquiring an additional 760,700 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Origin Materials by 11.0% during the 4th quarter. Cresset Asset Management LLC now owns 1,095,141 shares of the financial services provider's stock valued at $1,402,000 after acquiring an additional 108,480 shares during the period. Finally, HighTower Advisors LLC grew its stake in Origin Materials by 1.3% in the 3rd quarter. HighTower Advisors LLC now owns 1,045,038 shares of the financial services provider's stock valued at $1,608,000 after acquiring an additional 12,985 shares during the last quarter. Institutional investors and hedge funds own 29.91% of the company's stock.

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.