Virtu Financial LLC Cuts Stock Position in Origin Materials, Inc. (NASDAQ:ORGN)

Virtu Financial LLC cut its holdings in shares of Origin Materials, Inc. (NASDAQ:ORGN) by 47.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,919 shares of the financial services provider’s stock after selling 49,328 shares during the quarter. Virtu Financial LLC’s holdings in Origin Materials were worth $69,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. raised its holdings in shares of Origin Materials by 337.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,350,863 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 1,813,047 shares during the period. Geode Capital Management LLC increased its position in Origin Materials by 6.3% in the third quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock worth $2,290,000 after buying an additional 87,751 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Origin Materials by 1.3% in the third quarter. HighTower Advisors LLC now owns 1,045,038 shares of the financial services provider’s stock valued at $1,608,000 after buying an additional 12,985 shares during the period. State Street Corp lifted its position in shares of Origin Materials by 2.1% during the 3rd quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock valued at $739,000 after buying an additional 10,000 shares during the last quarter. Finally, RBF Capital LLC grew its stake in shares of Origin Materials by 10.2% during the 3rd quarter. RBF Capital LLC now owns 176,314 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 16,314 shares during the period. 29.91% of the stock is currently owned by institutional investors.

Origin Materials Stock Performance

Origin Materials stock opened at $0.66 on Tuesday. Origin Materials, Inc. has a fifty-two week low of $0.49 and a fifty-two week high of $1.90. The stock has a market cap of $99.11 million, a P/E ratio of -1.16 and a beta of 0.88. The firm’s fifty day moving average price is $0.86 and its 200-day moving average price is $1.14.

Origin Materials (NASDAQ:ORGN) last announced its earnings results on Thursday, March 13th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. The business had revenue of $9.22 million during the quarter, compared to analyst estimates of $9.08 million. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. Sell-side analysts predict that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Analyst Ratings Changes

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

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.