Origin Materials (NASDAQ:ORGN) Stock Passes Below 200 Day Moving Average - Here's Why

Shares of 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 $0.72 and traded as low as $0.59. Origin Materials shares last traded at $0.60, with a volume of 929,468 shares changing hands.

Analyst Upgrades and Downgrades

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

Origin Materials Trading Up 24.8%

The firm has a market cap of $111.82 million, a PE ratio of -1.11 and a beta of 0.84. The business has a 50-day moving average price of $0.51 and a two-hundred day moving average price of $0.71. 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 issued its quarterly earnings results on Thursday, May 15th. The financial services provider reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.10). Origin Materials had a negative net margin of 321.96% and a negative return on equity of 27.44%. The business had revenue of $5.43 million during the quarter, compared to analysts' expectations of $29.10 million. Analysts forecast that Origin Materials, Inc. will post -0.6 EPS for the current year.

Institutional Trading of Origin Materials

Several hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Securities LLC bought a new position in Origin Materials during the fourth quarter valued at about $34,000. StoneX Group Inc. bought a new stake in shares of Origin Materials during the 4th quarter valued at $35,000. Barclays PLC increased its position in shares of Origin Materials by 3,019,800.0% in the 4th 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 in the last quarter. Virtu Financial LLC increased its position in shares of Origin Materials by 66.9% in the 1st 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 in the last quarter. Finally, Two Sigma Advisers LP bought a new position in Origin Materials during the 4th quarter worth about $85,000. Institutional investors and hedge funds own 29.91% of the company's stock.

About Origin Materials

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.