Origin Materials, Inc. (NASDAQ:ORGN) Short Interest Update

Origin Materials, Inc. (NASDAQ:ORGN) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 7,097,175 shares, an increase of 32.9% from the February 12th total of 5,341,866 shares. Based on an average trading volume of 1,475,461 shares, the days-to-cover ratio is presently 4.8 days. Currently, 4.8% of the company’s shares are short sold. Currently, 4.8% of the company’s shares are short sold. Based on an average trading volume of 1,475,461 shares, the days-to-cover ratio is presently 4.8 days.

Origin Materials Stock Performance

Shares of ORGN traded down $0.00 during trading hours on Friday, hitting $0.12. The stock had a trading volume of 3,144,006 shares, compared to its average volume of 1,612,640. Origin Materials has a 12-month low of $0.11 and a 12-month high of $0.95. The firm has a market cap of $18.26 million, a P/E ratio of -0.26 and a beta of 0.99. The company’s fifty day simple moving average is $0.18 and its 200 day simple moving average is $0.38.

Shares of Origin Materials are going to reverse split on the morning of Friday, March 20th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, March 19th.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Origin Materials in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Origin Materials by 13.0% during the second quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after buying an additional 196,050 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Origin Materials by 112.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,387 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 39,856 shares in the last quarter. Osaic Holdings Inc. boosted its position in Origin Materials by 21.7% during the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 19,950 shares during the period. Vanguard Group Inc. boosted its position 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 worth $2,882,000 after purchasing an additional 220,421 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Origin Materials in the 3rd quarter valued at $39,000. 29.91% of the stock is owned by institutional investors and hedge funds.

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.