John Bissell Sells 45,000 Shares of Origin Materials (NASDAQ:ORGN) Stock

Origin Materials, Inc. (NASDAQ:ORGN) CEO John Bissell sold 45,000 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $0.27, for a total value of $12,150.00. Following the completion of the sale, the chief executive officer directly owned 1,997,973 shares of the company’s stock, valued at approximately $539,452.71. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Origin Materials Stock Down 7.3%

NASDAQ:ORGN opened at $0.27 on Friday. Origin Materials, Inc. has a fifty-two week low of $0.26 and a fifty-two week high of $1.36. The stock has a market cap of $41.19 million, a PE ratio of -0.58 and a beta of 0.93. The firm’s fifty day simple moving average is $0.52 and its 200-day simple moving average is $0.56.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings data on Thursday, November 13th. The financial services provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). Origin Materials had a negative net margin of 275.03% and a negative return on equity of 21.95%. The company had revenue of $4.66 million during the quarter, compared to analyst estimates of $29.10 million. Equities analysts anticipate that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Institutional Trading of Origin Materials

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Origin Materials during the third quarter worth $39,000. Osaic Holdings Inc. lifted its position in Origin Materials by 21.7% during the second quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock worth $54,000 after buying an additional 19,950 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Origin Materials by 848.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after buying an additional 557,747 shares during the last quarter. Geode Capital Management LLC boosted its stake in Origin Materials by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after buying an additional 196,050 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Origin Materials by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after buying an additional 220,421 shares during the period. 29.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Origin Materials in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, Origin Materials presently has a consensus rating of “Sell” and an average price target of $1.50.

About Origin Materials

Origin Materials, Inc is a cleantech company focused on producing sustainable chemicals and materials from renewable biomass rather than fossil feedstocks. The company’s core technology platform converts wood chips and other lignocellulosic feedstocks into a versatile intermediate called CMF (chloromethylfurfural), which can be further processed into a range of building‐block chemicals used in applications such as packaging, coatings and performance fibers. By offering a drop‐in alternative to petrochemical precursors, Origin Materials aims to reduce carbon emissions and environmental impact across multiple industries.

The company operates a demonstration facility in Sarnia, Ontario, where it validates its conversion process at scale and produces sample volumes of bio‐based intermediates.