BofA Securities slashes price target on Origin Materials Inc. [ORGN] – find out why.


Origin Materials Inc. [NASDAQ: ORGN] traded at a high on 03/17/22, posting a 16.75 gain after which it closed the day’ session at $7.11. The company report on March 8, 2022 that Origin Materials Named to Fast Company’s Annual List of the World’s Most Innovative Companies for 2022.

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World’s leading carbon-negative materials company joins the ranks of SpaceX, Tesla, Moderna, Beyond Meat, and more.

Origin Materials, Inc. (“Origin” or “Origin Materials”) (NASDAQ: ORGN, ORGNW), the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, today announced it has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022.

The results of the trading session contributed to over 3520065 shares changing hands. Over the past one week, the price volatility of Origin Materials Inc. stands at 7.87% while the volatility over the past one month is 7.24%.

The market cap for ORGN stock reached $1.00 billion, with 137.15 million shares outstanding and 109.94 million shares in the current float. Compared to the average trading volume of 1.23M shares, ORGN reached a trading volume of 3520065 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Origin Materials Inc. [ORGN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ORGN shares is $15.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ORGN stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Origin Materials Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 06, 2022. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Buy. The new note on the price target was released on November 23, 2021, representing the official price target for Origin Materials Inc. stock. Previously, the target price had yet another raise to $8, while BofA Securities analysts kept a Neutral rating on ORGN stock.

The Average True Range (ATR) for Origin Materials Inc. is set at 0.41 The Price to Book ratio for the last quarter was 3.22, with the Price to Cash per share for the same quarter was set at 3.14.

How has ORGN stock performed recently?

Origin Materials Inc. [ORGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.97. With this latest performance, ORGN shares gained by 30.22% in over the last four-week period, additionally sinking by -0.56% over the last 6 months – not to mention a drop of -31.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ORGN stock in for the last two-week period is set at 71.68, with the RSI for the last a single of trading hit 78.02, and the three-weeks RSI is set at 66.38 for Origin Materials Inc. [ORGN]. The present Moving Average for the last 50 days of trading for this stock 5.57, while it was recorded at 6.24 for the last single week of trading, and 6.74 for the last 200 days.

Origin Materials Inc. [ORGN]: Deeper insight into the fundamentals

Reflecting on the efficiency of the workforce at the company, Origin Materials Inc. [ORGN] managed to generate an average of -$62,576 per employee.Origin Materials Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 107.80 and a Current Ratio set at 107.80.

Insider trade positions for Origin Materials Inc. [ORGN]

There are presently around $233 million, or 28.00% of ORGN stock, in the hands of institutional investors. The top three institutional holders of ORGN stocks are: BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. with ownership of 10,518,615, which is approximately 11.84% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 4,122,288 shares of the stock with an approximate value of $25.11 million in ORGN stocks shares; and APOLLO MANAGEMENT HOLDINGS, L.P., currently with $21.32 million in ORGN stock with ownership of nearly -1.624% of the company’s market capitalization.

Positions in Origin Materials Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 72 institutional holders increased their position in Origin Materials Inc. [NASDAQ:ORGN] by around 6,205,426 shares. Additionally, 34 investors decreased positions by around 6,596,272 shares, while 18 investors held positions by with 25,462,075 shares. The mentioned changes placed institutional holdings at 38,263,773 shares, according to the latest SEC report filing. ORGN stock had 35 new institutional investments in for a total of 1,822,991 shares, while 15 institutional investors sold positions of 2,118,089 shares during the same period.