Origin Materials (NASDAQ:ORGN) Shares Pass Above 50 Day Moving Average - Time to Sell?

Key Points

• Origin Materials' stock has surpassed its 50-day moving average of $0.53, reaching a high of $0.77 before trading at $0.73 with significant volume.
• Wall Street analysts have downgraded Origin Materials to a "strong sell" rating, reflecting concerns about its financial performance.
• The company posted a net loss of ($0.18) EPS for the last quarter, falling short of analysts' expectations and reporting revenue of only $5.43 million against a consensus estimate of $29.10 million.

Origin Materials, Inc. (NASDAQ:ORGN - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.53 and traded as high as $0.77. Origin Materials shares last traded at $0.73, with a volume of 568,490 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Origin Materials to a "strong sell" rating in a research report on Saturday, July 5th.

Origin Materials Trading Down 5.6%

The business has a 50-day moving average of $0.54 and a 200-day moving average of $0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.44 and a current ratio of 9.51. The stock has a market capitalization of $103.02 million, a price-to-earnings ratio of -1.02 and a beta of 0.84.

Origin Materials (NASDAQ:ORGN - Get Free Report) last released its quarterly earnings results 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). Origin Materials had a negative return on equity of 27.44% and a negative net margin of 321.96%. The firm had revenue of $5.43 million during the quarter, compared to analyst estimates of $29.10 million. As a group, research analysts forecast that Origin Materials, Inc. will post -0.6 EPS for the current year.

Institutional Trading of Origin Materials

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Securities LLC acquired a new position in Origin Materials in the fourth quarter valued at approximately $34,000. StoneX Group Inc. acquired a new position in Origin Materials in the fourth quarter valued at approximately $35,000. Barclays PLC raised its holdings in shares of Origin Materials by 3,019,800.0% during the fourth quarter. Barclays PLC now owns 30,199 shares of the financial services provider's stock valued at $39,000 after buying an additional 30,198 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Origin Materials by 66.9% during the first quarter. Virtu Financial LLC now owns 90,016 shares of the financial services provider's stock valued at $60,000 after buying an additional 36,097 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in shares of Origin Materials during the fourth quarter valued at approximately $85,000. 29.91% of the stock is owned by hedge funds and other institutional investors.

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.