Origin Materials (NASDAQ:ORGN) Stock Passes Below 200 Day Moving Average After Earnings Miss

Origin Materials, Inc. (NASDAQ:ORGN)’s stock price passed below its 200-day moving average during trading on Thursday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $7.06 and traded as low as $1.23. Origin Materials shares last traded at $1.23, with a volume of 537,951 shares trading hands.

The financial services provider reported ($3.28) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.88). Origin Materials had a negative net margin of 1,319.62% and a negative return on equity of 97.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ORGN. Wall Street Zen raised shares of Origin Materials to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Origin Materials in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Origin Materials currently has an average rating of “Sell”.

Institutional Investors Weigh In On Origin Materials

Several institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its position in shares of Origin Materials by 21.7% during the 2nd 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. Ameriprise Financial Inc. grew its position in shares of Origin Materials by 112.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after buying an additional 39,856 shares during the period. Virtu Financial LLC acquired a new stake in shares of Origin Materials during the 3rd quarter worth approximately $39,000. XTX Topco Ltd acquired a new stake in shares of Origin Materials during the 4th quarter worth approximately $26,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Origin Materials by 157.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock worth $59,000 after buying an additional 171,105 shares during the period. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Stock Performance

The firm’s 50-day moving average price is $2.65 and its 200 day moving average price is $7.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.81 and a current ratio of 2.83. The company has a market cap of $6.68 million, a price-to-earnings ratio of -0.02 and a beta of 1.26.

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.