Fintel reports that on August 16, 2024, B of A Securities upgraded their outlook for Origin Materials (NasdaqCM:ORGN) from Neutral to Buy.
Analyst Price Forecast Suggests 128.06% Upside
As of August 6, 2024, the average one-year price target for Origin Materials is $3.24/share. The forecasts range from a low of $1.36 to a high of $5.25. The average price target represents an increase of 128.06% from its latest reported closing price of $1.42 / share.
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The projected annual revenue for Origin Materials is 117MM, an increase of 244.06%. The projected annual non-GAAP EPS is -0.64.
What is the Fund Sentiment?
There are 188 funds or institutions reporting positions in Origin Materials. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to ORGN is 0.00%, an increase of 6.51%. Total shares owned by institutions decreased in the last three months by 23.67% to 27,508K shares. 
The put/call ratio of ORGN is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,033K shares representing 2.06% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 2,820K shares representing 1.92% ownership of the company. In its prior filing, the firm reported owning 3,046K shares , representing a decrease of 8.02%. The firm decreased its portfolio allocation in ORGN by 41.85% over the last quarter.
Millennium Management holds 2,405K shares representing 1.64% ownership of the company. In its prior filing, the firm reported owning 28K shares , representing an increase of 98.85%. The firm increased its portfolio allocation in ORGN by 16,605.70% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 1,745K shares representing 1.19% ownership of the company. No change in the last quarter.
Geode Capital Management holds 1,399K shares representing 0.95% ownership of the company. In its prior filing, the firm reported owning 2,676K shares , representing a decrease of 91.34%. The firm decreased its portfolio allocation in ORGN by 54.23% over the last quarter.
Origin Materials Background Information
(This description is provided by the company.)
Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.
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