Origin Materials (NASDAQ:ORGN) Shares Pass Below 200 Day Moving Average – Here’s Why

Origin Materials, Inc. (NASDAQ:ORGN) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.24 and traded as low as $0.83. Origin Materials shares last traded at $0.84, with a volume of 803,451 shares changing hands.

Wall Street Analyst Weigh In

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

Origin Materials Stock Performance

The firm has a fifty day moving average of $1.04 and a 200-day moving average of $1.24. The firm has a market cap of $123.24 million, a P/E ratio of -1.48 and a beta of 0.89.

Insiders Place Their Bets

In other Origin Materials news, General Counsel Joshua C. Lee sold 25,000 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $1.02, for a total transaction of $25,500.00. Following the sale, the general counsel now directly owns 629,785 shares in the company, valued at approximately $642,380.70. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Bissell sold 36,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $1.14, for a total transaction of $41,040.00. Following the transaction, the chief executive officer now owns 1,581,230 shares in the company, valued at $1,802,602.20. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,525 shares of company stock worth $199,645. Insiders own 17.49% of the company’s stock.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORGN. Two Sigma Securities LLC acquired a new position in Origin Materials during the fourth quarter worth about $34,000. StoneX Group Inc. purchased a new position in Origin Materials in the 4th quarter worth about $35,000. Barclays PLC raised its holdings in Origin Materials by 3,019,800.0% during the 4th quarter. Barclays PLC now owns 30,199 shares of the financial services provider’s stock worth $39,000 after buying an additional 30,198 shares during the period. US Bancorp DE lifted its stake in 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 in the last quarter. Finally, Capstone Wealth Management LLC purchased a new stake in shares of Origin Materials in the 4th quarter valued at approximately $50,000. 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.