HighTower Advisors LLC Sells 40,750 Shares of Origin Materials, Inc. (NASDAQ:ORGN)

HighTower Advisors LLC trimmed its holdings in Origin Materials, Inc. (NASDAQ:ORGN) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,004,288 shares of the financial services provider’s stock after selling 40,750 shares during the quarter. HighTower Advisors LLC’s holdings in Origin Materials were worth $1,285,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its holdings in Origin Materials by 337.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after buying an additional 1,813,047 shares in the last quarter. Virtu Financial LLC purchased a new position in Origin Materials during the 3rd quarter worth $159,000. XTX Topco Ltd grew its stake in shares of Origin Materials by 461.7% in the 3rd quarter. XTX Topco Ltd now owns 109,610 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 90,096 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Origin Materials in the third quarter valued at about $135,000. Finally, Geode Capital Management LLC lifted its position in shares of Origin Materials by 6.3% during the third quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock valued at $2,290,000 after purchasing an additional 87,751 shares in the last quarter. 29.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Bank of America downgraded shares of Origin Materials from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $2.50 to $1.50 in a research report on Tuesday, January 14th.

Insider Activity

In related news, CEO John Bissell sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $1.00, for a total value of $55,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,976,230 shares of the company’s stock, valued at approximately $1,976,230. This trade represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joshua C. Lee sold 25,000 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $1.02, for a total transaction of $25,500.00. Following the sale, the general counsel now directly owns 629,785 shares in the company, valued at $642,380.70. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,900 shares of company stock valued at $107,170 in the last three months. Company insiders own 17.49% of the company’s stock.

Origin Materials Trading Up 2.2 %

Shares of Origin Materials stock opened at $0.75 on Wednesday. The business’s fifty day simple moving average is $0.89 and its 200 day simple moving average is $1.16. Origin Materials, Inc. has a 12 month low of $0.44 and a 12 month high of $1.90. The firm has a market capitalization of $112.02 million, a P/E ratio of -1.32 and a beta of 0.88.

Origin Materials (NASDAQ:ORGN) last released its earnings results on Thursday, March 13th. The financial services provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $9.22 million for the quarter, compared to analysts’ expectations of $9.08 million. Origin Materials had a negative return on equity of 21.26% and a negative net margin of 229.52%. Analysts predict that Origin Materials, Inc. will post -0.6 EPS for the current fiscal year.

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.