Origin Materials, Inc. (NASDAQ:ORGN) CEO Acquires $300,000.00 in Stock

Origin Materials, Inc. (NASDAQ:ORGN) CEO Richard J. Riley bought 300,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $1.00 per share, with a total value of $300,000.00. Following the purchase, the chief executive officer now directly owns 749,083 shares of the company’s stock, valued at approximately $749,083. This represents a 66.80 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Origin Materials Price Performance

Shares of Origin Materials stock opened at $1.24 on Friday. Origin Materials, Inc. has a 1 year low of $0.44 and a 1 year high of $1.90. The firm’s 50-day moving average is $1.41 and its 200 day moving average is $1.19. The stock has a market cap of $181.35 million, a price-to-earnings ratio of -2.18 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Origin Materials in the 3rd quarter worth approximately $159,000. Geode Capital Management LLC increased its holdings in shares of Origin Materials by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 87,751 shares in the last quarter. Public Employees Retirement System of Ohio raised 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 purchasing an additional 26,600 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Origin Materials by 461.7% during the third quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 90,096 shares in the last quarter. Finally, State Street Corp boosted its position 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 last quarter. Institutional investors own 29.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised Origin Materials from a “neutral” rating to a “buy” rating and raised their price objective for the company from $1.35 to $3.00 in a research report on Friday, August 16th.

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.