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

Origin Materials, Inc. (NASDAQ:ORGN)’s stock is set 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 market closes on Thursday, March 19th.

Origin Materials Trading Down 4.4%

NASDAQ:ORGN traded down $0.01 during mid-day trading on Thursday, hitting $0.13. The company 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 price-to-earnings ratio of -0.27 and a beta of 0.99. The business has a fifty day simple moving average of $0.18 and a 200-day simple moving average of $0.39. Origin Materials has a 1 year low of $0.12 and a 1 year high of $0.95.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Origin Materials

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Origin Materials by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock worth $2,882,000 after acquiring an additional 220,421 shares during the period. Geode Capital Management LLC grew its position in Origin Materials by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 196,050 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Origin Materials by 848.8% in 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 purchasing an additional 557,747 shares during the period. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 1,073,163 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Origin Materials by 157.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after buying an additional 171,105 shares during the last quarter. 29.91% of the stock is currently owned by institutional investors and hedge funds.

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.