Origin Materials, Inc. (NASDAQ:ORGN) Sees Significant Growth in Short Interest

Origin Materials, Inc. (NASDAQ:ORGN) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totaling 7,108,635 shares, a growth of 72.4% from the December 15th total of 4,123,860 shares. Based on an average trading volume of 3,981,746 shares, the days-to-cover ratio is presently 1.8 days. Approximately 4.8% of the shares of the stock are short sold. Approximately 4.8% of the shares of the stock are short sold. Based on an average trading volume of 3,981,746 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Activity

In other news, CFO Matthew T. Plavan sold 150,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $0.55, for a total value of $82,500.00. Following the sale, the chief financial officer owned 1,360,231 shares in the company, valued at approximately $748,127.05. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 367,200 shares of company stock worth $133,272 over the last three months. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Origin Materials

Large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in shares of Origin Materials by 112.2% in the second quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock valued at $36,000 after buying an additional 39,856 shares during the period. Virtu Financial LLC bought a new stake in Origin Materials in the 3rd quarter valued at $39,000. Osaic Holdings Inc. lifted its position in Origin Materials by 21.7% in the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 19,950 shares in the last quarter. 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 purchasing an additional 557,747 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Origin Materials by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 196,050 shares in the last quarter. 29.91% of the stock is owned by institutional investors.

Origin Materials Stock Performance

ORGN traded down $0.00 during midday trading on Thursday, reaching $0.20. 826,628 shares of the company were exchanged, compared to its average volume of 1,674,211. The stock has a market capitalization of $30.55 million, a P/E ratio of -0.43 and a beta of 0.97. Origin Materials has a one year low of $0.19 and a one year high of $1.12. The stock’s 50-day simple moving average is $0.37 and its 200 day simple moving average is $0.53.

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

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.