Origin Materials Inc (NASDAQ:ORGN) price on Tuesday, December 24, fall -2.07% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.97.
A look at the stock’s price movement, the close in the last trading session was $0.99, moving within a range at $0.9501 and $0.9945. 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 -21.48% over the past month.
Origin Materials Inc’s market cap currently stands at around $139.41 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 9.08M for the company’s revenue for the quarter, with a low and high estimate of 9.08M and 9.08M respectively. The average forecast suggests down to a -30.51% 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 31.14M, representing a 8.10% 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 50% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
ORGN’s current price about -14.45% and -21.44% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.64, while 7-day volatility ratio is 7.68% and 6.41% in the 30-day chart. Further, Origin Materials Inc (ORGN) has a beta value of 0.99, and an average true range (ATR) of 0.08. 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 -209.28% off current price level while to achieve the yearly target high, price needs to move -209.28%. Nonetheless, investors will most likely welcome a -209.28% 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 1.55 over the past 10 days and 1.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 145.89 million shares.
The 13.94% of Origin Materials Inc’s shares are in the hands of company insiders while institutional holders own 16.60% 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 16.43% 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.
