Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Update

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 7,170,000 shares, an increase of 24.9% from the December 31st total of 5,740,000 shares. Currently, 5.7% of the shares of the company are short sold. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 5.4 days.

Insider Activity at Origin Materials

In other news, General Counsel Joshua C. Lee sold 47,625 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $1.08, for a total transaction of $51,435.00. Following the completion of the sale, the general counsel now owns 429,785 shares in the company, valued at approximately $464,167.80. This represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard J. Riley purchased 300,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of $1.00 per share, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 749,083 shares in the company, valued at $749,083. This trade represents a 66.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 189,525 shares of company stock valued at $199,645 in the last three months. 3.90% of the stock is currently owned by company insiders.

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Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ORGN. Capstone Wealth Management LLC acquired a new position in Origin Materials during the 4th quarter worth approximately $50,000. FNY Investment Advisers LLC acquired a new position in Origin Materials during the fourth quarter worth $67,000. Virtu Financial LLC purchased a new position in Origin Materials in the third quarter worth $159,000. Geode Capital Management LLC raised its position in Origin Materials by 6.3% in 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 acquiring an additional 87,751 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Origin Materials by 20.8% in the third quarter. Public Employees Retirement System of Ohio now owns 154,331 shares of the financial services provider's stock valued at $238,000 after acquiring an additional 26,600 shares during the period. 29.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Origin Materials Stock Performance

Origin Materials stock traded down $0.04 during trading hours on Friday, reaching $0.86. 1,500,066 shares of the stock were exchanged, compared to its average volume of 1,253,829. Origin Materials has a 52-week low of $0.44 and a 52-week high of $1.90. The stock has a market cap of $125.78 million, a P/E ratio of -1.51 and a beta of 0.89. The firm's 50 day moving average is $1.09 and its 200 day moving average is $1.24.

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.