Origin Materials (NASDAQ:ORGN) Posts Quarterly Earnings Results

Origin Materials (NASDAQ:ORGN) posted its quarterly earnings results on Thursday. The financial services provider reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.88), Zacks reports. Origin Materials had a negative net margin of 1,319.62% and a negative return on equity of 97.45%.

Origin Materials Stock Performance

NASDAQ ORGN traded down $0.02 during trading on Thursday, reaching $1.23. 537,951 shares of the company’s stock were exchanged, compared to its average volume of 221,837. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.83 and a quick ratio of 2.81. The business has a 50 day moving average price of $2.65 and a 200-day moving average price of $7.06. The stock has a market capitalization of $6.68 million, a P/E ratio of -0.02 and a beta of 1.26. Origin Materials has a fifty-two week low of $1.23 and a fifty-two week high of $28.49.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ORGN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a research report on Friday, March 27th. Wall Street Zen raised Origin Materials to a “sell” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Origin Materials presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its holdings in shares of Origin Materials by 848.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after acquiring an additional 557,747 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Origin Materials by 4.1% during 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 purchasing an additional 220,421 shares during the last quarter. Geode Capital Management LLC boosted its position in Origin Materials by 13.0% during the second 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 during the period. Renaissance Technologies LLC increased its holdings in shares of Origin Materials by 756.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 1,073,163 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Origin Materials by 157.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 171,105 shares during the last quarter. 29.91% of the stock is currently owned by institutional investors.

Origin Materials Company Profile

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.