Short Interest in Origin Materials, Inc. (NASDAQ:ORGN) Declines By 24.2%

Origin Materials, Inc. (NASDAQ:ORGN) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,520,000 shares, a drop of 24.2% from the March 15th total of 7,280,000 shares. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is currently 3.9 days. Approximately 4.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake 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 worth $2,290,000 after buying an additional 87,751 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in Origin Materials in the third quarter valued at approximately $92,000. State Street Corp lifted its position in shares of Origin Materials by 2.1% during the 3rd quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock worth $739,000 after buying an additional 10,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Origin Materials in the 3rd quarter valued at approximately $159,000. Finally, XTX Topco Ltd boosted its position in Origin Materials by 461.7% in the third quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock valued at $169,000 after buying an additional 90,096 shares in the last quarter. 29.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Bank of America downgraded Origin Materials from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $2.50 to $1.50 in a report on Tuesday, January 14th.

Origin Materials Stock Up 0.2 %

NASDAQ:ORGN traded up $0.00 during mid-day trading on Monday, reaching $0.61. 223,908 shares of the company were exchanged, compared to its average volume of 1,546,833. The stock has a market cap of $90.42 million, a PE ratio of -1.06 and a beta of 0.99. Origin Materials has a 12 month low of $0.42 and a 12 month high of $1.90. The company has a fifty day moving average of $0.75 and a 200 day moving average of $1.03.

Origin Materials (NASDAQ:ORGN) last issued its quarterly earnings results on Thursday, March 13th. The financial services provider reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. The company had revenue of $9.22 million during the quarter, compared to analysts’ expectations of $9.08 million. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. On average, equities research analysts anticipate that Origin Materials will post -0.6 EPS for the current fiscal year.

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.