BNP Paribas Asset Management UK L has recently announced that it has increased stake in Origin Materials Inc. (NASDAQ:ORGN) by 2.39%. After grabbing 7.7 million shares, the institutional investor is now in possession of 0.18 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 5.40% having worth around $36.97 million. Moreover, BlackRock Fund Advisors increased its share by 59238.0 to have a control over 6.71 million shares. And The Vanguard Group, Inc. raised its holdings to 49373.0 shares by acquiring 5.56 million shares or 3.90% of the stake.
Origin Materials Inc. (ORGN) concluded trading on 03/15/23 at a closing price of $3.99, with 2.15 million shares of worth about $8.59 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -34.59% during that period and on Wednesday the price saw a loss of about -2.92%. Currently the company’s common shares owned by public are about 138.21M shares, out of which, 104.96M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the ORGN stock and their offered price forecasts bring an average price target of $12.60. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $7.00. The stock’s current price level is 68.33% above of average price target set by the analysts, while a rise to estimated low would result in gain of 43.0% for the stock. However, touching the estimated high of $20.00 would mean a gain of 80.05% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 58 times over the past 12 months. They bought 13,229,390 shares in 35 of the transactions. In 23 selling transactions, insiders dumped 1,202,962 shares.
BNP Paribas Funds – Energy Transi, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Origin Materials Inc. BNP Paribas Funds – Energy Transi is currently holding 6.84 million shares of worth totaling $32.85 million. The company recently came buying 0.0 shares which brought its stake up to 4.80% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 2.29 million shares, have now control over 1.61% of the stake in the company. It holds 7254.0 shares of worth $11.02 million.
Origin Materials Inc. (NASDAQ: ORGN) started trading at $4.01, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 4.5100, or with a loss of -2.92%. Stock saw a price change of -10.74% in past 5 days and over the past one month there was a price change of -22.37%. Year-to-date (YTD), ORGN shares are showing a performance of -13.45% which decreased to -32.83% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.97 but also hit the highest price of $7.71 during that period. The average intraday trading volume for Origin Materials Inc. shares is 1.17 million. The stock is currently trading -14.53% below its 20-day simple moving average (SMA20), while that difference is down -22.70% for SMA50 and it goes to -28.30% lower than SMA200.
BNP Paribas Asset Management UK L acquired 7.7 million shares of Origin Materials Inc. having value of about $36.97 million. Data submitted at the U.S SEC by BNP Paribas Asset Management UK L revealed that the firm now holds 0.18 million shares in the company valued at close to $717242.4, or have control over 2.39% stake in the company. Origin Materials Inc. (NASDAQ: ORGN) currently have 138.21M outstanding shares and institutions hold larger chunk of about 30.50% of that. Holding of mutual funds in the company is about 16.52% while other institutional holders and individual stake holders have control over 20.17% and 11.40% of the stake respectively.
The stock has a current market capitalization of $587.57M. PE ratio of stock for trailing 12 months is 7.22, while it has posted earnings per share of $0.55 in the same period. It has Quick Ratio of 16.70 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ORGN, volatility over the week remained 5.34% while standing at 4.83% over the month.
Stock’s fiscal year EPS is expected to rise by 85.60% while it is estimated to decrease by -9.50% in next year.
Analysts at 6 brokerage firms have issued recommendations for the Origin Materials Inc. (ORGN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on October 14, 2022 offering an Outperform rating for the stock and assigned a target price of $7 to it. On November 23, 2021, HSBC Securities Initiated their recommendations, while on October 05, 2021, BofA Securities Initiated their ratings for the stock with a price target of $8. Stock get a Neutral rating from Goldman on September 09, 2021.
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