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Origin Materials (NASDAQ:ORGN) Shares Pass Below 200 Day Moving Average - Here's Why

Origin Materials logo with Oils/Energy background

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.24 and traded as low as $0.83. Origin Materials shares last traded at $0.84, with a volume of 803,451 shares changing hands.

Analysts Set New Price Targets

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

Get Our Latest Analysis on Origin Materials

Origin Materials Price Performance

The stock has a 50 day simple moving average of $1.02 and a 200-day simple moving average of $1.24. The firm has a market cap of $141.41 million, a PE ratio of -1.70 and a beta of 0.89.

Insider Buying and Selling at Origin Materials

In other news, General Counsel Joshua C. Lee sold 47,625 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $1.08, for a total transaction of $51,435.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Bissell sold 36,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $1.14, for a total value of $41,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,581,230 shares in the company, valued at $1,802,602.20. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,525 shares of company stock valued at $199,645. Company insiders own 17.49% of the company's stock.

Institutional Trading of Origin Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Securities LLC purchased a new position in Origin Materials during the fourth quarter worth approximately $34,000. StoneX Group Inc. purchased a new position in Origin Materials during the fourth quarter worth approximately $35,000. Barclays PLC increased its stake in Origin Materials by 3,019,800.0% during the fourth quarter. Barclays PLC now owns 30,199 shares of the financial services provider's stock worth $39,000 after acquiring an additional 30,198 shares during the last quarter. US Bancorp DE increased its stake in Origin Materials by 464.0% during the third 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 during the last quarter. Finally, Capstone Wealth Management LLC acquired a new stake in shares of Origin Materials in the fourth quarter valued at $50,000. 29.91% of the stock is owned by institutional investors and hedge funds.

About Origin Materials

(Get Free Report)

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.

Further Reading

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