Marshall Wace LLP Makes New $783,000 Investment in Origin Materials, Inc. (NASDAQ:ORGN)

Marshall Wace LLP bought a new position in shares of Origin Materials, Inc. (NASDAQ:ORGN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 611,882 shares of the financial services provider’s stock, valued at approximately $783,000. Marshall Wace LLP owned 0.42% of Origin Materials at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Origin Materials by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,486,519 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 87,751 shares in the last quarter. Renaissance Technologies LLC increased its position in Origin Materials by 193.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,153,200 shares of the financial services provider’s stock worth $1,476,000 after acquiring an additional 760,700 shares during the period. State Street Corp raised its stake in Origin Materials by 2.1% in the 3rd quarter. State Street Corp now owns 480,194 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 10,000 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Origin Materials in the 4th quarter valued at about $194,000. Finally, Virtu Financial LLC bought a new position in shares of Origin Materials during the third quarter worth approximately $159,000. 29.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Origin Materials Stock Down 4.0 %

Shares of Origin Materials stock opened at $0.68 on Friday. Origin Materials, Inc. has a 12-month low of $0.42 and a 12-month high of $1.90. The company has a market capitalization of $101.31 million, a price-to-earnings ratio of -1.19 and a beta of 0.99. The firm’s 50-day moving average price is $0.72 and its two-hundred day moving average price is $0.99.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings data on Thursday, March 13th. The financial services provider reported ($0.09) 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 the consensus estimate of $9.08 million. Origin Materials had a negative net margin of 229.52% and a negative return on equity of 21.26%. On average, sell-side analysts expect that Origin Materials, Inc. will post -0.6 earnings per share for the current year.

Origin Materials Profile

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.