Origin Materials (NASDAQ:ORGN) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Origin Materials, Inc. (NASDAQ:ORGN) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.18 and traded as low as $0.73. Origin Materials shares last traded at $0.78, with a volume of 772,583 shares.

Analysts Set New Price Targets

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

Origin Materials Price Performance

The stock has a market cap of $113.34 million, a P/E ratio of -1.36 and a beta of 0.88. The firm’s 50 day moving average price is $0.91 and its 200-day moving average price is $1.18.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $9.22 million for the quarter, compared to the consensus estimate 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, analysts expect that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel Joshua C. Lee sold 25,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $1.02, for a total value of $25,500.00. Following the completion of the transaction, the general counsel now owns 629,785 shares of the company’s stock, valued at approximately $642,380.70. This represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Bissell sold 55,000 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $1.00, for a total value of $55,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,976,230 shares of the company’s stock, valued at approximately $1,976,230. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,900 shares of company stock valued at $107,170. Insiders own 17.49% of the company’s stock.

Institutional Investors Weigh In On Origin Materials

Several institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP bought a new position in Origin Materials during the fourth quarter valued at approximately $85,000. Two Sigma Investments LP grew its stake in shares of Origin Materials by 8.7% during the fourth quarter. Two Sigma Investments LP now owns 317,844 shares of the financial services provider’s stock valued at $407,000 after buying an additional 25,412 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Origin Materials in the fourth quarter worth $330,000. Millennium Management LLC increased its stake in Origin Materials by 59.2% in the 4th quarter. Millennium Management LLC now owns 2,021,132 shares of the financial services provider’s stock worth $2,587,000 after buying an additional 751,632 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of Origin Materials during the fourth quarter valued at approximately $335,000. Institutional investors own 29.91% of the company’s stock.

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.