FNY Investment Advisers LLC bought a new position in Origin Materials, Inc. (NASDAQ:ORGN – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 52,500 shares of the financial services provider’s stock, valued at approximately $67,000.
Several other institutional investors also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Origin Materials in the second quarter valued at $31,000. Point72 DIFC Ltd acquired a new stake in Origin Materials in the 2nd quarter worth about $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Origin Materials in the 2nd quarter valued at about $155,000. AQR Capital Management LLC increased its stake in shares of Origin Materials by 352.9% during the 2nd quarter. AQR Capital Management LLC now owns 98,969 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 77,119 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Origin Materials during the 2nd quarter worth about $136,000. 29.91% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Bank of America downgraded Origin Materials from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $2.50 to $1.50 in a report on Tuesday.
Insider Transactions at Origin Materials
In other Origin Materials news, CEO John Bissell sold 36,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $1.14, for a total value of $41,040.00. Following the completion of the sale, the chief executive officer now owns 1,581,230 shares of the company’s stock, valued at $1,802,602.20. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Riley acquired 300,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $1.00 per share, for a total transaction of $300,000.00. Following the purchase, the chief executive officer now directly owns 749,083 shares of the company’s stock, valued at approximately $749,083. This trade represents a 66.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 309,525 shares of company stock valued at $358,045 over the last 90 days. Corporate insiders own 17.49% of the company’s stock.
Origin Materials Stock Performance
ORGN opened at $1.06 on Thursday. The company has a market cap of $155.03 million, a PE ratio of -1.86 and a beta of 0.92. Origin Materials, Inc. has a 1 year low of $0.44 and a 1 year high of $1.90. The firm has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.23.
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.
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