In the last trading session, 1.05 million Origin Materials Inc (NASDAQ:ORGN) shares changed hands as the company’s beta touched 1.41. With the company’s per share price at $1.04 changed hands at $0.02 or 1.96% during last session, the market valuation stood at $150.05M. ORGN’s last price was a discount, traded about -501.92% off its 52-week high of $6.26. The share price had its 52-week low at $0.72, which suggests the last value was 30.77% up since then. When we look at Origin Materials Inc’s average trading volume, we note the 10-day average is 1.57 million shares, with the 3-month average coming to 1.64 million.
Analysts gave the Origin Materials Inc (ORGN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended ORGN as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Origin Materials Inc’s EPS for the current quarter is expected to be -$0.12.
Origin Materials Inc (NASDAQ:ORGN) trade information
Instantly ORGN was in green as seen at the end of in last trading. With action 17.85%, the performance over the past five days has been green. The jump to weekly highs of 1.1700 on Friday, 11/17/23 added 1.96% to the stock’s daily price. The company’s shares are showing year-to-date downside of -77.44%, with the 5-day performance at 17.85% in the green. However, in the 30-day time frame, Origin Materials Inc (NASDAQ:ORGN) is -0.95% down. Looking at the short shares, we see there were 5.38 million shares sold at short interest cover period of 3.26 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.33, meaning bulls need an upside of 75.98% from its current market value. According to analyst projections, ORGN’s forecast low is $1.00 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -861.54% plunge from its current level, while the stock would need to tank 3.85% for it to hit the projected low.
Origin Materials Inc (ORGN) estimates and forecasts
Data shows that the Origin Materials Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -75.93% over the past 6 months, a -65.00% in annual growth rate that is considerably lower than the industry average of 0.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Origin Materials Inc will fall -209.10%, while the growth in revenue is estimated to hit -285.70% for the next quarter.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $12.9 million. 2 analysts are of the opinion that Origin Materials Inc’s revenue for the quarter ending Mar 2024 will be $23.7 million. The estimates for the next quarter sales put growth at 1,290.80%.
The 2023 estimates are for Origin Materials Inc earnings to decrease by -57.93%.
Origin Materials Inc is expected to release its next quarterly earnings report between February 19 and February 23.
Origin Materials Inc (NASDAQ:ORGN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 21.76% of Origin Materials Inc shares while 29.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 37.84%. There are 29.60% institutions holding the Origin Materials Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.43% of the shares, roughly 7.79 million ORGN shares worth $33.17 million.
BNP Paribas Asset Management Holding S.A. holds the second largest percentage of outstanding shares, with 4.56% or 6.55 million shares worth $27.89 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 3.03 million shares estimated at $12.92 million under it, the former controlled 2.11% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.66% of the shares, roughly 2.38 million shares worth around $3.26 million.