Origin Materials (NASDAQ:ORGN) Share Price Crosses Below 200 Day Moving Average - What's Next?

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.76 and traded as low as $0.55. Origin Materials shares last traded at $0.59, with a volume of 856,769 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Origin Materials to a "strong sell" rating in a research note on Saturday.

Origin Materials Trading Up 9.6%

The company has a current ratio of 9.51, a quick ratio of 9.44 and a debt-to-equity ratio of 0.01. The stock has a market cap of $88.77 million, a P/E ratio of -0.88 and a beta of 0.84. The company has a 50-day moving average price of $0.53 and a two-hundred day moving average price of $0.76.

Origin Materials (NASDAQ:ORGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The financial services provider reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.10). The firm had revenue of $5.43 million for the quarter, compared to the consensus estimate of $29.10 million. Origin Materials had a negative net margin of 321.96% and a negative return on equity of 27.44%. On average, research analysts expect that Origin Materials, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its stake in shares of Origin Materials by 59.2% during the fourth quarter. Millennium Management LLC now owns 2,021,132 shares of the financial services provider's stock valued at $2,587,000 after buying an additional 751,632 shares during the last quarter. Renaissance Technologies LLC grew its position in Origin Materials by 193.8% in the 4th quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider's stock valued at $1,476,000 after acquiring an additional 760,700 shares during the last quarter. Cresset Asset Management LLC grew its position in Origin Materials by 11.0% in the 4th quarter. Cresset Asset Management LLC now owns 1,095,141 shares of the financial services provider's stock valued at $1,402,000 after acquiring an additional 108,480 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Origin Materials in the fourth quarter worth about $783,000. Finally, Rehmann Capital Advisory Group bought a new position in Origin Materials in the 1st quarter worth about $406,000. Institutional investors own 29.91% of the company's stock.

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.

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