Origin Materials (NASDAQ:ORGN) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of Origin Materials, Inc. (NASDAQ:ORGN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.19 and traded as low as $1.05. Origin Materials shares last traded at $1.09, with a volume of 3,053,670 shares trading hands.

Analyst Ratings Changes

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

Origin Materials Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.48 and a current ratio of 13.57. The stock has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.19.

Origin Materials (NASDAQ:ORGN) last posted its quarterly earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Origin Materials had a negative return on equity of 20.63% and a negative net margin of 229.52%. The company had revenue of $7.03 million during the quarter. Equities analysts expect that Origin Materials, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Origin Materials

In related news, CFO Matthew T. Plavan sold 120,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $1.32, for a total transaction of $158,400.00. Following the completion of the transaction, the chief financial officer now owns 1,223,088 shares of the company’s stock, valued at approximately $1,614,476.16. The trade was a 8.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 120,400 shares of company stock worth $159,006. 17.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Origin Materials

Several hedge funds have recently modified their holdings of ORGN. Vanguard Personalized Indexing Management LLC acquired a new position in Origin Materials during the 2nd quarter valued at $31,000. US Bancorp DE raised its position in shares of Origin Materials by 464.0% during the third quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after buying an additional 23,200 shares during the last quarter. Moss Adams Wealth Advisors LLC bought a new stake in shares of Origin Materials in the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of Origin Materials during the 2nd quarter worth approximately $50,000. Finally, AQR Capital Management LLC increased its position in shares of Origin Materials by 352.9% during the second quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 77,119 shares during the period. 29.91% of the stock is owned by institutional investors.

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.