Insider Selling: Origin Materials (NASDAQ:ORGN) CEO Sells 45,000 Shares of Stock

Origin Materials, Inc. (NASDAQ:ORGN) CEO John Bissell sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $0.27, for a total value of $12,150.00. Following the completion of the transaction, the chief executive officer directly owned 1,997,973 shares of the company’s stock, valued at approximately $539,452.71. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Origin Materials Stock Down 7.3%

ORGN stock traded down $0.02 during midday trading on Friday, hitting $0.27. The company’s stock had a trading volume of 4,783,771 shares, compared to its average volume of 1,276,720. The stock’s 50-day moving average price is $0.52 and its 200 day moving average price is $0.56. Origin Materials, Inc. has a 1 year low of $0.26 and a 1 year high of $1.36. The stock has a market cap of $41.19 million, a price-to-earnings ratio of -0.58 and a beta of 0.93.

Origin Materials (NASDAQ:ORGN) last announced its earnings results on Thursday, November 13th. The financial services provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The business had revenue of $4.66 million for the quarter, compared to analysts’ expectations of $29.10 million. Origin Materials had a negative net margin of 275.03% and a negative return on equity of 21.95%. As a group, equities analysts forecast that Origin Materials, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Origin Materials in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus target price of $1.50.

Hedge Funds Weigh In On Origin Materials

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Origin Materials by 13.0% in the second quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 196,050 shares during the period. Ameriprise Financial Inc. boosted its holdings in Origin Materials by 112.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock worth $36,000 after buying an additional 39,856 shares during the period. Osaic Holdings Inc. grew its stake in Origin Materials by 21.7% in the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after buying an additional 19,950 shares in the last quarter. Vanguard Group Inc. raised its holdings in Origin Materials by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after acquiring an additional 220,421 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Origin Materials during the third quarter worth $39,000. Institutional investors own 29.91% of the company’s stock.

About Origin Materials

Origin Materials, Inc is a cleantech company focused on producing sustainable chemicals and materials from renewable biomass rather than fossil feedstocks. The company’s core technology platform converts wood chips and other lignocellulosic feedstocks into a versatile intermediate called CMF (chloromethylfurfural), which can be further processed into a range of building‐block chemicals used in applications such as packaging, coatings and performance fibers. By offering a drop‐in alternative to petrochemical precursors, Origin Materials aims to reduce carbon emissions and environmental impact across multiple industries.

The company operates a demonstration facility in Sarnia, Ontario, where it validates its conversion process at scale and produces sample volumes of bio‐based intermediates.