Origin Materials, Inc. (NASDAQ:ORGN) Sees Significant Increase in Short Interest

Origin Materials, Inc. (NASDAQ:ORGN) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 6,030,000 shares, a growth of 54.6% from the October 31st total of 3,900,000 shares. Currently, 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is presently 5.0 days.

Insiders Place Their Bets

In other Origin Materials news, CEO Richard J. Riley purchased 300,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $300,000.00. Following the acquisition, the chief executive officer now owns 749,083 shares of the company’s stock, valued at approximately $749,083. This represents a 66.80 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew T. Plavan sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $1.32, for a total value of $158,400.00. Following 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 8.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ORGN. Virtu Financial LLC purchased a new stake in shares of Origin Materials in the 3rd quarter valued at about $159,000. Geode Capital Management LLC raised its holdings 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 valued at $2,290,000 after buying an additional 87,751 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Origin Materials by 20.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 154,331 shares of the financial services provider’s stock valued at $238,000 after buying an additional 26,600 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Origin Materials by 461.7% during the 3rd quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock valued at $169,000 after buying an additional 90,096 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Origin Materials by 2.1% during the 3rd 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 in the last quarter. Institutional investors own 29.91% of the company’s stock.

Origin Materials Stock Up 1.6 %

Shares of ORGN stock traded up $0.02 on Friday, hitting $1.24. 578,430 shares of the stock were exchanged, compared to its average volume of 1,697,038. Origin Materials has a one year low of $0.44 and a one year high of $1.90. The firm’s 50 day moving average is $1.37 and its two-hundred day moving average is $1.20.

Analyst Ratings Changes

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

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.