Equities research analysts at HSBC initiated coverage on shares of Origin Materials (OTCMKTS:ORGN) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “buy” rating on the financial services provider’s stock.
Several other research firms also recently issued reports on ORGN. Bank of America assumed coverage on Origin Materials in a research report on Tuesday, October 5th. They set a “neutral” rating and a $8.00 target price on the stock. Zacks Investment Research cut Origin Materials from a “buy” rating to a “sell” rating in a report on Thursday, October 14th. Finally, The Goldman Sachs Group assumed coverage on Origin Materials in a report on Thursday, September 9th. They set a “neutral” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.75.
Shares of ORGN stock traded up $0.11 during trading on Tuesday, reaching $6.97. 1,764,917 shares of the company’s stock traded hands, compared to its average volume of 1,881,413. The firm’s 50-day moving average is $6.79 and its 200 day moving average is $5.28. Origin Materials has a 1 year low of $5.12 and a 1 year high of $14.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 257.95 and a current ratio of 257.95.
In other Origin Materials news, Director Boon Sim bought 25,000 shares of Origin Materials stock in a transaction that occurred on Tuesday, November 16th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $175,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 30.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC increased its position in shares of Origin Materials by 623.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 6,926 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 5,969 shares during the last quarter. Maven Securities LTD bought a new position in Origin Materials during the second quarter valued at approximately $85,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Origin Materials during the second quarter worth approximately $88,000. Walleye Trading LLC bought a new stake in shares of Origin Materials in the 2nd quarter worth approximately $89,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Origin Materials in the 2nd quarter valued at $92,000. Hedge funds and other institutional investors own 22.55% of the company’s stock.
Origin Materials Company Profile
Origin Materials, Inc operates as a carbon negative materials company. Its platform converts the carbon found in biomass into useful materials. The company was founded in 2008 and is headquartered in West Sacramento, California.