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 $31,224 were sold by Bissell John on Dec 13 ’23. At $0.78 per share, Bissell John sold 40,000 shares. The insider’s holdings dropped to 1,173,828 shares worth approximately $0.76 million following the completion of this transaction.
Also, Lee Joshua C. sold 17,500 shares, netting a total of over 13,556 in proceeds. Following the sale of shares at $0.77 each, the insider now holds 261,194 shares.
Before that, Lee Joshua C. had sold 12,400 shares from its account. In a trade valued at $11,353, the General Counsel traded Origin Materials Inc shares for $0.92 each. Upon closing the transaction, the insider’s holdings decreased to 12,400 shares, worth approximately $0.18 million.
As published in a research note from Craig Hallum on August 11, 2023, Origin Materials Inc [ORGN] has been rated down from a Buy to a Hold and the price target has been revised to $2. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid October. As of January 06, 2022, BofA Securities has increased its “Neutral” rating to a “Buy” for ORGN. Earlier on November 23, 2021, HSBC Securities initiated its rating. Their recommendation was “a Buy” for ORGN stock.
Analyzing ORGN Stock Performance
During the last five days, there has been a drop of approximately -0.29%. Over the course of the year, Origin Materials Inc shares have dropped approximately -22.54%. Shares of the company reached a 52-week high of $0.8990 on 01/02/24 and a 52-week low of $0.4422 on 03/26/24. A 50-day SMA is recorded $0.5549, while a 200-day SMA reached $1.4158. Nevertheless, trading volume fell to 1.78 million shares from 1.26 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 0.6193, which, if violated, would cause prices to drop to 0.5908. In the upper region, resistance lies at 0.6769. The next price resistance is at 0.7060. RSI (Relative Strength Index) is 55.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0875, which suggests the price will decrease in the coming days. Percent R is at 48.34%, 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 Mar 15, 2024 jumping by 0.84 million shares to 8.49 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.65 million shares. A jump of 9.89% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.33.
