Origin Materials (NASDAQ:ORGN) Shares Set to Reverse Split on Friday, March 20th

Shares of Origin Materials, Inc. (NASDAQ:ORGN) are set to reverse split before the market opens on Friday, March 20th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 19th.

Origin Materials Trading Down 4.4%

ORGN traded down $0.01 during trading hours on Thursday, hitting $0.13. The company’s stock had a trading volume of 4,170,665 shares, compared to its average volume of 1,640,191. The firm has a market capitalization of $18.89 million, a PE ratio of -0.27 and a beta of 0.99. The company has a 50-day simple moving average of $0.18 and a 200 day simple moving average of $0.39. Origin Materials has a fifty-two week low of $0.12 and a fifty-two week high of $0.95.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Origin Materials by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after buying an additional 220,421 shares during the period. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 196,050 shares in the last quarter. Renaissance Technologies LLC grew its position in Origin Materials by 756.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 1,073,163 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Origin Materials by 848.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 557,747 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Origin Materials by 157.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 171,105 shares in the last quarter. Institutional investors and hedge funds own 29.91% of the company’s stock.

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.