Origin Materials (NASDAQ:ORGN) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Origin Materials, Inc. (NASDAQ:ORGN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.23 and traded as low as $0.84. Origin Materials shares last traded at $0.85, with a volume of 622,701 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Bank of America cut shares of Origin Materials from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $2.50 to $1.50 in a research note on Tuesday, January 14th.

Origin Materials Stock Down 3.0 %

The company has a fifty day simple moving average of $1.00 and a 200-day simple moving average of $1.23. The firm has a market cap of $123.65 million, a P/E ratio of -1.48 and a beta of 0.89.

Insider Activity at Origin Materials

In other news, General Counsel Joshua C. Lee sold 25,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $1.02, for a total transaction of $25,500.00. Following the sale, the general counsel now directly owns 629,785 shares in the company, valued at $642,380.70. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Bissell sold 36,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $1.14, for a total transaction of $41,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,581,230 shares of the company’s stock, valued at $1,802,602.20. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,525 shares of company stock worth $199,645. 17.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Origin Materials

Several large investors have recently made changes to their positions in the business. US Bancorp DE raised its stake in Origin Materials by 464.0% during the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 23,200 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in Origin Materials during the 3rd quarter valued at approximately $92,000. HighTower Advisors LLC raised its position in shares of Origin Materials by 1.3% during the third quarter. HighTower Advisors LLC now owns 1,045,038 shares of the financial services provider’s stock valued at $1,608,000 after buying an additional 12,985 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Origin Materials by 337.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 1,813,047 shares in the last quarter. Finally, RBF Capital LLC boosted its position in shares of Origin Materials by 10.2% during the third quarter. RBF Capital LLC now owns 176,314 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 16,314 shares during the last quarter. 29.91% of the stock is currently owned by hedge funds and other institutional investors.

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.