Origin Materials, Inc. (NASDAQ:ORGN) Sees Large Decrease in Short Interest

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Origin Materials

Several large investors have recently made changes to their positions in ORGN. Vanguard Personalized Indexing Management LLC bought a new position in Origin Materials in the 2nd quarter worth approximately $31,000. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Origin Materials in the 2nd quarter worth approximately $45,000. Point72 DIFC Ltd bought a new position in shares of Origin Materials in the second quarter valued at approximately $50,000. AQR Capital Management LLC increased its stake in shares of Origin Materials by 352.9% during the second 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 during the period. Finally, Janus Henderson Group PLC raised its holdings in Origin Materials by 28.1% during the first quarter. Janus Henderson Group PLC now owns 240,378 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 52,701 shares in the last quarter. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Price Performance

Shares of NASDAQ:ORGN remained flat at $1.55 during trading on Friday. The stock had a trading volume of 928,880 shares, compared to its average volume of 1,848,689. The company has a quick ratio of 13.48, a current ratio of 13.57 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $0.92. The company has a market capitalization of $225.91 million, a PE ratio of -155,000.00 and a beta of 0.99. Origin Materials has a 52 week low of $0.44 and a 52 week high of $1.73.

Origin Materials (NASDAQ:ORGN) last issued its quarterly earnings data 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 company 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, analysts forecast that Origin Materials will post -0.45 EPS for the current year.

Origin Materials Company Profile

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.