Origin Materials (NASDAQ:ORGN) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Origin Materials, Inc. (NASDAQ:ORGN) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.21 and traded as high as $1.23. Origin Materials shares last traded at $1.15, with a volume of 2,924,401 shares trading hands.

Origin Materials Stock Up 10.6 %

The stock has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.21. The company has a market capitalization of $168.19 million, a price-to-earnings ratio of -2.02 and a beta of 0.95.

Insider Buying and Selling

In other news, CEO Richard J. Riley bought 300,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $1.00 per share, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now owns 749,083 shares in the company, valued at approximately $749,083. This trade represents a 66.80 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew T. Plavan sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $1.32, for a total transaction of $158,400.00. Following the completion of the sale, the chief financial officer now owns 1,223,088 shares in the company, valued at $1,614,476.16. The trade was a 8.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,625 shares of company stock worth $250,875 in the last three months. 17.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Origin Materials during the second quarter valued at about $31,000. US Bancorp DE increased its stake in Origin Materials by 464.0% during the 3rd quarter. US Bancorp DE now owns 28,200 shares of the financial services provider’s stock valued at $43,000 after buying an additional 23,200 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Origin Materials during the 2nd quarter worth about $50,000. AQR Capital Management LLC lifted its stake in shares of Origin Materials by 352.9% in the 2nd quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 77,119 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Origin Materials in the third quarter valued at approximately $92,000. Institutional investors and hedge funds own 29.91% of the company’s stock.

About Origin Materials

Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.