Origin Materials Inc (NASDAQ:ORGN) price on current trading day, rose 1.22% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.25.
A look at the stock’s price movement, the level at last check in today’s session was $1.23, moving within a range at $1.21 and $1.27. The beta value (5-Year monthly) was 1.01. Turning to its 52-week performance, $1.90 and $0.44 were the 52-week high and 52-week low respectively. Overall, ORGN moved -15.31% over the past month.
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Origin Materials Inc’s market cap currently stands at around $181.46 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-14.
Analysts have a consensus estimate of 8.3M for the company’s revenue for the quarter, with a low and high estimate of 8.3M and 8.3M respectively. The average forecast suggests up to a 16.25% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 31.24M, representing a 8.44% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ORGN is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
ORGN’s current price about -7.42% and -14.30% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 34.63, while 7-day volatility ratio is 4.44% and 4.83% in the 30-day chart. Further, Origin Materials Inc (ORGN) has a beta value of 0.96, and an average true range (ATR) of 0.07. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $3 and high of $3. Looking at the price targets, the low is -140.0% off recent price level in today’s trading while to achieve the yearly target high, it has to move -140.0%. Nonetheless, investors will most likely welcome a -140.0% jump to $3 which is the analysts’ median price.
If we refocus on Origin Materials Inc (NASDAQ:ORGN), historical trading data shows that trading volumes averaged 1.18 over the past 10 days and 1.39 million over the past 3 months. The company’s latest data on shares outstanding shows there are 145.71 million shares.
The 12.87% of Origin Materials Inc’s shares are in the hands of company insiders while institutional holders own 17.55% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.9 million on 2024-10-31, giving us a short ratio of 5.59. The data shows that as of 2024-10-31 short interest in Origin Materials Inc (ORGN) stood at 309.0 of shares outstanding, with shares short rising to 3.42 million registered in 2024-09-30. Current price change has pushed the stock 48.89% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ORGN stock continues to rise going into the next quarter.
