Origin Materials, Inc. (NASDAQ:ORGN) Stake Reduced by Apollo Management Holdings L.P.

Apollo Management Holdings L.P. cut its holdings in Origin Materials, Inc. (NASDAQ:ORGN) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,076,332 shares of the financial services provider’s stock after selling 121,142 shares during the quarter. Origin Materials comprises about 0.0% of Apollo Management Holdings L.P.’s investment portfolio, making the stock its 25th biggest holding. Apollo Management Holdings L.P. owned 0.74% of Origin Materials worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in 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 during the period. Renaissance Technologies LLC raised its holdings in Origin Materials by 193.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider’s stock worth $1,476,000 after buying an additional 760,700 shares during the period. Marshall Wace LLP acquired a new stake in Origin Materials during the 4th quarter worth about $783,000. State Street Corp raised its holdings in Origin Materials by 2.1% during the 3rd quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock worth $739,000 after buying an additional 10,000 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Origin Materials during the 4th quarter worth about $194,000. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Price Performance

NASDAQ:ORGN opened at $0.72 on Wednesday. Origin Materials, Inc. has a fifty-two week low of $0.42 and a fifty-two week high of $1.90. The stock’s 50-day moving average is $0.73 and its two-hundred day moving average is $1.00. The stock has a market cap of $108.01 million, a PE ratio of -1.27 and a beta of 0.99.

Origin Materials (NASDAQ:ORGN) last released its earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02. Origin Materials had a negative return on equity of 21.26% and a negative net margin of 229.52%. The company had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $9.08 million. On average, equities research analysts anticipate that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Bank of America downgraded Origin Materials from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $2.50 to $1.50 in a report 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.