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

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.07 and traded as low as $0.53. Origin Materials shares last traded at $0.56, with a volume of 678,000 shares traded.

Analyst Upgrades and Downgrades

Separately, Bank of America downgraded Origin Materials from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $2.50 to $1.50 in a report on Tuesday, January 14th.

Origin Materials Price Performance

The stock's fifty day moving average is $0.76 and its 200-day moving average is $1.05. The stock has a market capitalization of $88.27 million, a PE ratio of -1.04 and a beta of 0.99.

Origin Materials (NASDAQ:ORGN - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $9.22 million for the quarter, compared to the consensus estimate of $9.08 million. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. On average, analysts forecast that Origin Materials, Inc. will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors have recently modified their holdings of ORGN. State Street Corp lifted its stake in shares of Origin Materials by 2.1% during the third quarter. State Street Corp now owns 480,194 shares of the financial services provider's stock valued at $739,000 after buying an additional 10,000 shares during the period. Arete Wealth Advisors LLC lifted its position in Origin Materials by 21.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 90,013 shares of the financial services provider's stock worth $115,000 after acquiring an additional 16,050 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Origin Materials by 8.7% in the fourth quarter. Two Sigma Investments LP now owns 317,844 shares of the financial services provider's stock valued at $407,000 after purchasing an additional 25,412 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Origin Materials by 20.8% in the third quarter. Public Employees Retirement System of Ohio now owns 154,331 shares of the financial services provider's stock worth $238,000 after acquiring an additional 26,600 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of Origin Materials during the 4th quarter valued at approximately $34,000. 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.