Danimer Scientific (NYSE:DNMR) Trading Up 1.8%

Danimer Scientific, Inc. (NYSE:DNMR)’s share price shot up 1.8% on Wednesday . The stock traded as high as $0.74 and last traded at $0.69. 672,150 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 934,017 shares. The stock had previously closed at $0.68.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DNMR. Jefferies Financial Group lowered Danimer Scientific from a “buy” rating to a “hold” rating and lowered their target price for the stock from $1.30 to $0.80 in a research note on Wednesday, May 22nd. TD Cowen decreased their price objective on Danimer Scientific from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, Piper Sandler reissued a “neutral” rating and set a $0.94 target price (down previously from $2.63) on shares of Danimer Scientific in a report on Tuesday, April 9th.

Danimer Scientific Trading Down 3.7 %

The company has a debt-to-equity ratio of 1.50, a current ratio of 6.54 and a quick ratio of 4.91. The company has a market capitalization of $75.40 million, a price-to-earnings ratio of -0.46 and a beta of 1.62. The business’s 50-day moving average price is $0.67 and its two-hundred day moving average price is $0.74.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The firm had revenue of $10.22 million during the quarter, compared to analysts’ expectations of $12.10 million. Danimer Scientific had a negative return on equity of 49.97% and a negative net margin of 324.79%. Research analysts predict that Danimer Scientific, Inc. will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On Danimer Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in shares of Danimer Scientific in the 3rd quarter valued at $27,000. SG Americas Securities LLC bought a new position in Danimer Scientific in the fourth quarter valued at about $41,000. Levin Capital Strategies L.P. raised its stake in Danimer Scientific by 423.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 78,500 shares of the company’s stock worth $80,000 after acquiring an additional 63,500 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of Danimer Scientific by 100.6% in the third quarter. Brandywine Global Investment Management LLC now owns 92,880 shares of the company’s stock worth $192,000 after acquiring an additional 46,580 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC acquired a new stake in shares of Danimer Scientific in the 3rd quarter valued at approximately $208,000. 33.84% of the stock is currently owned by institutional investors and hedge funds.

Danimer Scientific Company Profile

Danimer Scientific, Inc, a performance polymer company, provides bioplastic replacements for traditional petroleum-based plastics in the United States, Germany, Poland, Belgium, Austria, and internationally. It produces polyhydroxyalkanoate, a biodegradable plastic feedstock alternative under the Nodax brand name for applications in films, straws, cutlery, food containers, and others; polylactic acid-based resins for coating disposable paper cups; and other biopolymers.