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Origin Materials (NASDAQ:ORGN) Stock Price Passes Above 50 Day Moving Average of $5.27

Defense World · Jan 17, 2023 03:21

Origin Materials, Inc. (NASDAQ:ORGN – Get Rating) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.27 and traded as high as $5.55. Origin Materials shares last traded at $5.50, with a volume of 34,267 shares.

Analyst Upgrades and Downgrades

Separately, Credit Suisse Group started coverage on shares of Origin Materials in a research report on Friday, October 14th. They issued an "outperform" rating and a $7.00 price objective on the stock.

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Origin Materials Price Performance

The stock's fifty day moving average price is $5.27 and its 200-day moving average price is $5.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 23.03 and a current ratio of 23.02. The firm has a market cap of $784.87 million, a PE ratio of 11.46 and a beta of 1.05.

Origin Materials (NASDAQ:ORGN – Get Rating) last posted its earnings results on Thursday, November 3rd. The financial services provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.05. As a group, equities analysts forecast that Origin Materials, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Origin Materials

In other news, insider Stephen Galowitz sold 21,768 shares of Origin Materials stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $5.70, for a total transaction of $124,077.60. Following the sale, the insider now owns 141,497 shares in the company, valued at $806,532.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Origin Materials news, General Counsel Joshua C. Lee sold 10,200 shares of the company's stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $5.68, for a total value of $57,936.00. Following the completion of the sale, the general counsel now directly owns 57,827 shares of the company's stock, valued at approximately $328,457.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Galowitz sold 21,768 shares of the company's stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $5.70, for a total transaction of $124,077.60. Following the completion of the sale, the insider now directly owns 141,497 shares of the company's stock, valued at $806,532.90. The disclosure for this sale can be found here. Insiders have sold a total of 288,304 shares of company stock valued at $1,448,830 over the last ninety days. Corporate insiders own 25.20% of the company's stock.

Institutional Investors Weigh In On Origin Materials

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Origin Materials during the first quarter worth approximately $44,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Origin Materials in the second quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Origin Materials in the second quarter valued at $56,000. ProShare Advisors LLC bought a new position in Origin Materials in the second quarter valued at about $62,000. Finally, Principal Financial Group Inc. bought a new position in Origin Materials in the second quarter valued at about $63,000. Institutional investors own 28.63% of the company's stock.

About Origin Materials

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Micromidas, Inc, doing business as Origin Materials, produces and commercializes plant-based PET plastic. It develops a platform for turning the carbon found in biomass into useful materials, while capturing carbon in the process. The company serves tire filler, carbon black, agriculture, and activated carbon markets.