Origin Materials Set For Early Profitability, Analyst Highlights Positioning For Long-Term Growth, Upgrades Stock
ORGNOrigin Materials(ORGN) Benzinga·2024-08-17 01:57

Origin Materials, Inc. ORGN shares are surging today. The company reported second-quarter financial results on Wednesday.The company reported a loss per share of 0.14,missingtheconsensuslossof 0.14, missing the consensus loss of 0.12, and sales of 7.03millioncamebelowthestreetviewof 7.03 million came below the street view of 7.78 million.The company has also secured a 2-year MOU for PET closure production, projected to generate over $100 million in revenue, starting in early 2025 and increasing significantly in 2026.BofA Securities analyst Steve Byrne upgraded the comp ...