Key Points
- CEO John Bissell sold 45,000 shares on Dec. 19 at an average price of $0.27 (totaling $12,150), trimming his holdings by 2.2% to about 1,997,973 shares.
- Origin Materials reported weak results—EPS of -$0.11 vs. -$0.07 expected and revenue of $4.66M vs. $29.10M expected—leaving a negative net margin and a market cap of roughly $41M, and the stock carries a consensus "Sell" rating with a $1.50 target.
Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) CEO John Bissell sold 45,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $0.27, for a total transaction of $12,150.00. Following the transaction, the chief executive officer owned 1,997,973 shares of the company's stock, valued at approximately $539,452.71. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Origin Materials Stock Performance
Shares of ORGN stock opened at $0.27 on Friday. The firm has a market cap of $41.19 million, a price-to-earnings ratio of -0.58 and a beta of 0.93. Origin Materials, Inc. has a 52 week low of $0.26 and a 52 week high of $1.36. The firm's 50-day simple moving average is $0.52 and its two-hundred day simple moving average is $0.55.
Origin Materials (NASDAQ:ORGN - Get Free Report) last released its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $29.10 million. Analysts forecast that Origin Materials, Inc. will post -0.6 earnings per share for the current year.
Institutional Trading of Origin Materials
Several hedge funds and other institutional investors have recently modified their holdings of ORGN. Ameriprise Financial Inc. lifted its stake 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 valued at $36,000 after buying an additional 39,856 shares in the last quarter. Virtu Financial LLC purchased a new position in Origin Materials in the 3rd quarter valued at approximately $39,000. Osaic Holdings Inc. raised its holdings in Origin Materials by 21.7% during 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 during the period. Jacobs Levy Equity Management Inc. raised its holdings in 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 valued at $323,000 after acquiring an additional 557,747 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 196,050 shares in the last quarter. Institutional investors own 29.91% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Origin Materials in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell" and a consensus target price of $1.50.
Read Our Latest Research Report on ORGN
About Origin Materials
(
Get Free Report)
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.
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