Origin Materials Inc (NASDAQ:ORGN) price on Thursday, February 27, rose 4.43% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.88.
A look at the stock’s price movement, the close in the last trading session was $0.84. Turning to its 52-week performance, $1.90 and $0.44 were the 52-week high and 52-week low respectively. Overall, ORGN moved -13.35% over the past month.
Origin Materials Inc’s market cap currently stands at around $128.00 million, with investors looking forward to this quarter’s earnings report slated for in March.
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 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
ORGN’s current price about -2.00% and -13.08% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.10, while 7-day volatility ratio is 9.53% and 7.82% in the 30-day chart. Further, Origin Materials Inc (ORGN) has a beta value of 0.90, 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 -240.91% off current price level while to achieve the yearly target high, price needs to move -240.91%. Nonetheless, investors will most likely welcome a -240.91% 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 1.53 million over the past 3 months. The company’s latest data on shares outstanding shows there are 145.89 million shares.
The 7.84% of Origin Materials Inc’s shares are in the hands of company insiders while institutional holders own 17.45% of the company’s shares. Current price change has pushed the stock -31.63% 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.
