Origin Materials (NASDAQ:ORGN) Shares Pass Below 200-Day Moving Average - Should You Sell?

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.78 and traded as low as $0.44. Origin Materials shares last traded at $0.49, with a volume of 841,119 shares traded.

Origin Materials Price Performance

The firm's 50-day moving average is $0.56 and its two-hundred day moving average is $0.78. The company has a market cap of $72.11 million, a P/E ratio of -0.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.51 and a quick ratio of 9.44.

Origin Materials (NASDAQ:ORGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The financial services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.10). Origin Materials had a negative return on equity of 27.44% and a negative net margin of 321.96%. The business had revenue of $5.43 million during the quarter, compared to the consensus estimate of $29.10 million. Analysts anticipate that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Origin Materials

Several large investors have recently bought and sold shares of ORGN. Renaissance Technologies LLC increased its position in Origin Materials by 193.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider's stock worth $1,476,000 after purchasing an additional 760,700 shares during the last quarter. Millennium Management LLC increased its position in 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 acquiring an additional 751,632 shares during the last quarter. Marshall Wace LLP bought a new position in Origin Materials during the fourth quarter valued at $783,000. Rehmann Capital Advisory Group bought a new position in Origin Materials during the first quarter valued at $406,000. Finally, Janus Henderson Group PLC bought a new position in Origin Materials during the fourth quarter valued at $335,000. 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.