Origin Materials (NASDAQ:ORGN) Announces Quarterly Earnings Results

Origin Materials (NASDAQ:ORGN) announced its earnings results on Thursday. The financial services provider reported ($3.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.88), Zacks reports. Origin Materials had a negative net margin of 1,742.04% and a negative return on equity of 101.75%. The business had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $29.10 million.

Origin Materials Stock Performance

Shares of ORGN traded up $0.20 during trading hours on Friday, hitting $1.43. The company’s stock had a trading volume of 22,667,561 shares, compared to its average volume of 246,305. The company has a market cap of $7.76 million, a price-to-earnings ratio of -0.03 and a beta of 1.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.83 and a quick ratio of 2.81. The business has a 50 day simple moving average of $2.59 and a two-hundred day simple moving average of $7.02. Origin Materials has a 52-week low of $1.22 and a 52-week high of $28.49.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORGN. Geode Capital Management LLC grew its holdings in Origin Materials by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after buying an additional 196,050 shares in the last quarter. Ameriprise Financial Inc. boosted its position 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 during the last quarter. Osaic Holdings Inc. boosted its position in shares of Origin Materials by 21.7% during the 2nd quarter. Osaic Holdings Inc. now owns 111,823 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 19,950 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Origin Materials during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Origin Materials to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Materials in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Origin Materials Company Profile

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.