Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Update

Origin Materials, Inc. (NASDAQ:ORGN) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 3,160,000 shares, a decrease of 24.6% from the August 15th total of 4,190,000 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 1,770,000 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Origin Materials

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Origin Materials by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider’s stock worth $3,009,000 after buying an additional 48,889 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Origin Materials by 12.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,853,083 shares of the financial services provider’s stock worth $945,000 after purchasing an additional 203,099 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Origin Materials by 92.5% in the 1st quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 395,588 shares during the period. Janus Henderson Group PLC lifted its stake in Origin Materials by 28.1% in the first quarter. Janus Henderson Group PLC now owns 240,378 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 52,701 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Origin Materials during the second quarter valued at $155,000. 29.91% of the stock is currently owned by institutional investors.

Origin Materials Stock Performance

ORGN opened at $1.55 on Monday. The firm has a market capitalization of $225.91 million, a PE ratio of -155,000.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.57 and a quick ratio of 13.48. Origin Materials has a fifty-two week low of $0.44 and a fifty-two week high of $1.73. The company’s 50-day moving average is $1.15 and its 200 day moving average is $0.92.

Origin Materials (NASDAQ:ORGN) last issued its quarterly earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $7.03 million for the quarter. Origin Materials had a negative net margin of 37.93% and a negative return on equity of 14.10%. As a group, research analysts predict that Origin Materials will post -0.45 earnings per share for the current fiscal year.

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.