Origin Materials (NASDAQ:ORGN) Shares to Reverse Split on Friday, March 20th

Shares of Origin Materials, Inc. (NASDAQ:ORGN) are going to reverse split before the market opens on Friday, March 20th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, March 19th.

Origin Materials Stock Down 4.4%

Shares of ORGN stock traded down $0.01 during trading on Thursday, reaching $0.13. 4,170,665 shares of the company’s stock were exchanged, compared to its average volume of 1,559,634. Origin Materials has a twelve month low of $0.12 and a twelve month high of $0.95. The firm’s fifty day moving average price is $0.18 and its 200-day moving average price is $0.38.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Origin Materials in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Origin Materials currently has an average rating of “Sell”.

Hedge Funds Weigh In On Origin Materials

A number of institutional investors have recently modified their holdings of ORGN. Vanguard Group Inc. boosted its stake in shares of Origin Materials by 4.1% during the third quarter. Vanguard Group Inc. now owns 5,552,860 shares of the financial services provider’s stock valued at $2,882,000 after purchasing an additional 220,421 shares in the last quarter. Geode Capital Management LLC raised its holdings in Origin Materials by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,705,663 shares of the financial services provider’s stock valued at $824,000 after buying an additional 196,050 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Origin Materials by 848.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 623,460 shares of the financial services provider’s stock worth $323,000 after buying an additional 557,747 shares during the period. Renaissance Technologies LLC grew its holdings in Origin Materials by 756.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,215,063 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 1,073,163 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Origin Materials by 157.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 279,903 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 171,105 shares during the period. Institutional investors and hedge funds own 29.91% of the company’s stock.

Origin Materials Company Profile

Origin Materials, Inc is a cleantech company focused on producing sustainable chemicals and materials from renewable biomass rather than fossil feedstocks. The company’s core technology platform converts wood chips and other lignocellulosic feedstocks into a versatile intermediate called CMF (chloromethylfurfural), which can be further processed into a range of building?block chemicals used in applications such as packaging, coatings and performance fibers. By offering a drop?in alternative to petrochemical precursors, Origin Materials aims to reduce carbon emissions and environmental impact across multiple industries.

The company operates a demonstration facility in Sarnia, Ontario, where it validates its conversion process at scale and produces sample volumes of bio?based intermediates.