Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Origin Materials Inc. shares valued at $61,682 were sold by Heidenmark Cook Pia Johanna on Sep 16. At $5.61 per share, Heidenmark Cook Pia Johanna sold 10,989 shares. The insider’s holdings dropped to 97,467 shares worth approximately $0.52 million following the completion of this transaction.
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Also, Heidenmark Cook Pia Johanna sold 48,000 shares, netting a total of over 291,629 in proceeds. Following the sale of shares at $6.08 each, the insider now holds 108,456 shares.
Before that, Riley Richard J. had sold 45,000 shares from its account. In a trade valued at $321,795, the Co-CEO and Director traded Origin Materials Inc. shares for $7.15 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $0.11 million.
As published in their initiating research note from Credit Suisse on October 14, 2022, Origin Materials Inc. [ORGN] has been an Outperform and the price target has been revised to $7. This represents a 24.0% premium over Thursday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of November 23, 2021, HSBC Securities has initiated its “Buy” rating for ORGN. Earlier on October 05, 2021, BofA Securities initiated its rating. Their recommendation was “a Neutral” for ORGN stock.
Analyzing ORGN Stock Performance
On Thursday, Origin Materials Inc. [NASDAQ: ORGN] rose 0.38% to $5.32. The stock’s lowest price that day was $5.22, but it reached a high of $5.38 in the same session. During the last five days, there has been a drop of approximately -3.10%. Over the course of the year, Origin Materials Inc. shares have dropped approximately -17.52%. Shares of the company reached a 52-week high of $7.71 on 06/02/22 and a 52-week low of $4.65 on 01/28/22. A 50-day SMA is recorded $5.55, while a 200-day SMA reached $5.92. Nevertheless, trading volume fell to 0.92 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Origin Materials Inc. (ORGN)
According to the 24-hour chart, there is a support level at 5.23, which, if violated, would cause prices to drop to 5.15. In the upper region, resistance lies at 5.39. The next price resistance is at 5.47. RSI (Relative Strength Index) is 47.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 58.24%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Origin Materials Inc. subject to short interest?
Stocks of Origin Materials Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.94 million shares to 7.97 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.03 million shares. A jump of 24.34% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.44.
Which companies own the most shares of Origin Materials Inc. (ORGN)?
According to BNP Paribas Asset Management UK L filings, the company currently owns 8,340,880 shares, which is about 5.86% of the total ORGN shares outstanding. The investor’s shares have plunged by -1,005,621 from its previous 13-F filing of 9346501.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $34,316,203. The Vanguard Group, Inc. acquire a 5.31% interest valued at $32.22 million while Geode Capital Management LLC purchased a 899,772 stake. A total of 1,130,406 shares of Origin Materials Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 462,663 were bought by Knightsbridge Asset Management LL. In its current portfolio, Northern Trust Investments, Inc. holds 964,013 shares valued at $4.97 million.
In terms of Origin Materials Inc. share price expectations, FactSet research, analysts set an average price target of $13.00 in the next 12 months, up nearly 135.85% from the previous closing price of $5.30. Analysts anticipate Origin Materials Inc. stock to reach $20.00 by 2022, with the lowest price target being $7.00. In spite of this, 5 analysts ranked Origin Materials Inc. stock as a Buy at the end of 2022. On September 09, 2021, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $10.