Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Down 24.2% in March

Origin Materials, Inc. (NASDAQ:ORGN) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,520,000 shares, a drop of 24.2% from the March 15th total of 7,280,000 shares. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is presently 3.9 days. Currently, 4.0% of the company’s shares are short sold.

Origin Materials Stock Up 0.2 %

NASDAQ:ORGN traded up $0.00 during trading hours on Monday, reaching $0.61. The company had a trading volume of 223,908 shares, compared to its average volume of 1,546,833. The business’s 50-day simple moving average is $0.75 and its two-hundred day simple moving average is $1.03. The firm has a market cap of $90.42 million, a price-to-earnings ratio of -1.06 and a beta of 0.99. Origin Materials has a twelve month low of $0.42 and a twelve month high of $1.90.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings results on Thursday, March 13th. The financial services provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. The business had revenue of $9.22 million during the quarter, compared to analyst estimates of $9.08 million. As a group, equities analysts predict that Origin Materials will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Origin Materials

A number of institutional investors and hedge funds have recently bought and sold shares of ORGN. Geode Capital Management LLC lifted its position in shares of Origin Materials by 6.3% during 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 buying an additional 87,751 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of Origin Materials during the 3rd quarter valued at $92,000. State Street Corp boosted its position in Origin Materials by 2.1% during the third quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC bought a new position in Origin Materials in the 3rd quarter worth approximately $159,000. Finally, XTX Topco Ltd boosted its holdings in shares of Origin Materials by 461.7% in the third quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 90,096 shares during the period. 29.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.