Rhumbline Advisers Trims Holdings in Origin Materials, Inc. (NASDAQ:ORGN)

Rhumbline Advisers decreased its position in shares of Origin Materials, Inc. (NASDAQ:ORGN) by 65.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,049 shares of the financial services provider’s stock after selling 111,213 shares during the quarter. Rhumbline Advisers’ holdings in Origin Materials were worth $53,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Origin Materials by 12.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,853,083 shares of the financial services provider’s stock worth $945,000 after buying an additional 203,099 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Origin Materials by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,899,099 shares of the financial services provider’s stock valued at $3,009,000 after purchasing an additional 48,889 shares during the last quarter. Acadian Asset Management LLC grew its position in Origin Materials by 92.5% during the 1st quarter. Acadian Asset Management LLC now owns 823,455 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 395,588 shares during the period. Janus Henderson Group PLC grew its position in Origin Materials by 28.1% during the 1st quarter. Janus Henderson Group PLC now owns 240,378 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 52,701 shares during the period. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of Origin Materials during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 29.91% of the company’s stock.

Origin Materials Trading Down 4.9 %

Origin Materials stock opened at $1.54 on Tuesday. The firm has a market cap of $226.41 million, a PE ratio of -154,000.00 and a beta of 0.99. Origin Materials, Inc. has a 12 month low of $0.44 and a 12 month high of $1.90. The stock’s 50 day simple moving average is $1.30 and its two-hundred day simple moving average is $1.01. The company has a current ratio of 13.57, a quick ratio of 13.48 and a debt-to-equity ratio of 0.01.

Origin Materials (NASDAQ:ORGN) last announced its quarterly earnings results on Wednesday, August 14th. The financial services provider reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The firm had revenue of $7.03 million for the quarter. Origin Materials had a negative return on equity of 14.10% and a negative net margin of 37.93%. Analysts anticipate that Origin Materials, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Bank of America upgraded Origin Materials from a “neutral” rating to a “buy” rating and upped their target price for the stock from $1.35 to $3.00 in a research note on Friday, August 16th.

About Origin Materials

Origin Materials, Inc, together with its subsidiaries, operates as a carbon-negative materials company. The company develops a proprietary biomass conversion platform to convert biomass, or plant-based carbon into building block chemicals chloromethylfurfural and hydrothermal carbon, as well as other oils and extractives and other co-products.