Origin Materials, Inc. (NASDAQ:ORGN) CEO Purchases 300,000 Shares

Origin Materials, Inc. (NASDAQ:ORGN) CEO Richard J. Riley purchased 300,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $300,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 749,083 shares in the company, valued at approximately $749,083. This trade represents a 66.80 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Origin Materials Trading Up 4.2 %

ORGN opened at $1.24 on Friday. The company’s 50 day moving average is $1.41 and its 200 day moving average is $1.19. The company has a market cap of $181.35 million, a price-to-earnings ratio of -2.18 and a beta of 1.00. Origin Materials, Inc. has a 12-month low of $0.44 and a 12-month high of $1.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ORGN. Vanguard Group Inc. raised its holdings in Origin Materials by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider’s stock worth $3,009,000 after purchasing an additional 48,889 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Origin Materials by 337.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 1,813,047 shares during the period. Geode Capital Management LLC lifted its position in shares of Origin Materials by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 87,751 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Origin Materials by 1.3% during 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 period. Finally, Acadian Asset Management LLC increased its holdings in Origin Materials by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 395,588 shares in the last quarter. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America raised Origin Materials from a “neutral” rating to a “buy” rating and increased their target price for the company from $1.35 to $3.00 in a report on Friday, August 16th.

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.