Origin Materials (NASDAQ:ORGN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Origin Materials, Inc. (NASDAQ:ORGN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.24 and traded as low as $0.80. Origin Materials shares last traded at $0.84, with a volume of 2,015,879 shares.

Wall Street Analyst Weigh In

Separately, Bank of America lowered Origin Materials from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $2.50 to $1.50 in a research note on Tuesday, January 14th.

Origin Materials Stock Performance

The firm has a market cap of $122.57 million, a price-to-earnings ratio of -1.47 and a beta of 0.89. The business’s 50 day moving average price is $1.01 and its 200 day moving average price is $1.24.

Insider Transactions at Origin Materials

In other Origin Materials news, CEO John Bissell sold 55,000 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $1.00, for a total value of $55,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,976,230 shares of the company’s stock, valued at $1,976,230. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Joshua C. Lee sold 25,000 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $1.02, for a total value of $25,500.00. Following the completion of the sale, the general counsel now directly owns 629,785 shares of the company’s stock, valued at $642,380.70. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,525 shares of company stock valued at $199,645 in the last 90 days. 17.49% of the stock is currently owned by company insiders.

Institutional Trading of Origin Materials

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new stake in shares of Origin Materials during the 4th quarter worth about $34,000. StoneX Group Inc. purchased a new stake in Origin Materials in the fourth quarter valued at approximately $35,000. Barclays PLC increased its holdings in shares of Origin Materials by 3,019,800.0% in the fourth quarter. Barclays PLC now owns 30,199 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 30,198 shares during the period. US Bancorp DE grew its holdings 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 worth $43,000 after acquiring an additional 23,200 shares during the period. Finally, Capstone Wealth Management LLC purchased a new stake in Origin Materials during the fourth quarter worth $50,000. 29.91% of the stock is owned by institutional investors and hedge funds.

Origin Materials Company Profile

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.