Matthew T. Plavan Sells 120,000 Shares of Origin Materials, Inc. (NASDAQ:ORGN) Stock

Origin Materials, Inc. (NASDAQ:ORGN) CFO Matthew T. Plavan sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $1.32, for a total value of $158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 1,223,088 shares in the company, valued at $1,614,476.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Origin Materials Stock Performance

Shares of NASDAQ ORGN traded down $0.03 during trading hours on Wednesday, hitting $1.26. 1,421,070 shares of the company’s stock were exchanged, compared to its average volume of 1,705,733. The company’s 50-day moving average price is $1.48 and its 200-day moving average price is $1.16. Origin Materials, Inc. has a 1-year low of $0.44 and a 1-year high of $1.90. The stock has a market capitalization of $183.65 million, a price-to-earnings ratio of -14.78 and a beta of 1.00. 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 (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 return on equity of 14.10% and a negative net margin of 37.93%. On average, sell-side analysts expect that Origin Materials, Inc. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Origin Materials

Large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Origin Materials during the second quarter valued at approximately $31,000. US Bancorp DE increased its holdings in Origin Materials by 464.0% in the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after buying an additional 23,200 shares during the period. Moss Adams Wealth Advisors LLC acquired a new position in shares of Origin Materials in the 2nd quarter valued at $45,000. Point72 DIFC Ltd bought a new position in shares of Origin Materials during the 2nd quarter worth about $50,000. Finally, AQR Capital Management LLC boosted its position in shares of Origin Materials by 352.9% during the 2nd quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 77,119 shares in the last quarter. Institutional investors and hedge funds own 29.91% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Bank of America upgraded shares of Origin Materials from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $1.35 to $3.00 in a 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.