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Origin Materials (NASDAQ:ORGN) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Origin Materials logo with Oils/Energy background

Shares of Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.24 and traded as low as $0.99. Origin Materials shares last traded at $0.99, with a volume of 648,990 shares traded.

Wall Street Analyst Weigh In

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

View Our Latest Report on ORGN

Origin Materials Stock Performance

The business's 50 day moving average price is $1.12 and its 200-day moving average price is $1.24. The firm has a market capitalization of $136.74 million, a PE ratio of -1.64 and a beta of 0.92.

Insider Activity at Origin Materials

In related news, CEO John Bissell sold 36,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $1.14, for a total transaction of $41,040.00. Following the sale, the chief executive officer now directly owns 1,581,230 shares in the company, valued at approximately $1,802,602.20. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Riley purchased 300,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $1.00 per share, with a total value of $300,000.00. Following the purchase, the chief executive officer now directly owns 749,083 shares of the company's stock, valued at $749,083. The trade was a 66.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 309,525 shares of company stock worth $358,045. 17.49% of the stock is currently owned by company insiders.

Institutional Trading of Origin Materials

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its holdings in Origin Materials by 464.0% in the third quarter. US Bancorp DE now owns 28,200 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 23,200 shares in the last quarter. Capstone Wealth Management LLC acquired a new position in shares of Origin Materials in the 4th quarter valued at $50,000. FNY Investment Advisers LLC purchased a new position in shares of Origin Materials in the 4th quarter valued at $67,000. AQR Capital Management LLC raised its stake in Origin Materials by 352.9% during the 2nd quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider's stock worth $89,000 after acquiring an additional 77,119 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Origin Materials in the third quarter valued at $92,000. 29.91% of the stock is currently owned by institutional investors and hedge funds.

Origin Materials Company Profile

(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.

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