Origin Materials Inc (NASDAQ: ORGN) In 2024: Is This Company Worth Thinking About Investing In?

In the last trading session, 1.17 million shares of the Origin Materials Inc (NASDAQ:ORGN) were traded, and its beta was 1.16. Most recently the company’s share price was $0.49, and it changed around -$0.02 or -3.01% from the last close, which brings the market valuation of the company to $72.06M. ORGN currently trades at a discount to its 52-week high of $5.04, offering almost -928.57% off that amount. The share price’s 52-week low was $0.44, which indicates that the current value has risen by an impressive 10.2% since then. We note from Origin Materials Inc’s average daily trading volume that its 10-day average is 1.26 million shares, with the 3-month average coming to 1.60 million.

Origin Materials Inc (NASDAQ:ORGN) trade information

Instantly ORGN has showed a red trend with a performance of -3.01% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -40.95% year-to-date, but still down -0.42% over the last five days. On the other hand, Origin Materials Inc (NASDAQ:ORGN) is -9.18% down in the 30-day period. We can see from the shorts that 8.49 million shares have been sold at a short interest cover period of 4.33 day(s).

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Origin Materials Inc (ORGN) estimates and forecasts

Origin Materials Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -61.42 percent over the past six months and at a -22.58% annual growth rate that is well above the industry average of -24.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -257.10% in revenue this quarter, and will report a decrease of -120.00% in the next quarter. The year-over-year growth rate is expected to be 4.20%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $6.29 million in revenue for the current quarter. 2 analysts expect Origin Materials Inc to make $7.39 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.7 million and $7.03 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 269.10%. Forecasts for the next quarter put sales growth at 5.10%.

ORGN Dividends

Origin Materials Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.

Origin Materials Inc (NASDAQ:ORGN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 17.32% of Origin Materials Inc shares, and 24.53% of them are in the hands of institutional investors. The stock currently has a share float of 29.67%. Origin Materials Inc stock is held by 132 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 5.43% of the shares, which is about 7.79 million shares worth $33.17 million.

BNP Paribas Asset Management Holding S.A., with 4.56% or 6.55 million shares worth $27.89 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 3.03 million shares worth $12.92 million, making up 2.11% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.38 million shares worth around $3.26 million, which represents about 1.66% of the total shares outstanding.