Danimer Scientific (NYSE:DNMR) Rating Lowered to Hold at TD Cowen

Danimer Scientific (NYSE:DNMR) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $1.00 target price on the stock, down from their previous target price of $2.00. TD Cowen’s price target would suggest a potential upside of 185.14% from the stock’s current price.

Separately, Jefferies Financial Group downgraded shares of Danimer Scientific from a “buy” rating to a “hold” rating and reduced their target price for the stock from $1.30 to $0.80 in a report on Wednesday, May 22nd.

Danimer Scientific Stock Down 7.7 %

Shares of NYSE DNMR opened at $0.35 on Tuesday. Danimer Scientific has a 12-month low of $0.32 and a 12-month high of $2.20. The stock’s fifty day simple moving average is $0.56 and its two-hundred day simple moving average is $0.69. The stock has a market capitalization of $40.83 million, a PE ratio of -0.25 and a beta of 1.58. The company has a current ratio of 6.54, a quick ratio of 4.91 and a debt-to-equity ratio of 1.50.

Institutional Investors Weigh In On Danimer Scientific

Large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Danimer Scientific in the 4th quarter valued at $41,000. Privium Fund Management B.V. increased its position in shares of Danimer Scientific by 67.6% in the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock valued at $42,000 after acquiring an additional 30,398 shares during the period. Levin Capital Strategies L.P. increased its position in shares of Danimer Scientific by 423.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 78,500 shares of the company’s stock valued at $80,000 after acquiring an additional 63,500 shares during the period. Thomasville National Bank increased its position in shares of Danimer Scientific by 125.8% in the 1st quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock valued at $194,000 after acquiring an additional 99,078 shares during the period. Finally, Virtu Financial LLC increased its position in shares of Danimer Scientific by 628.5% in the 4th quarter. Virtu Financial LLC now owns 182,078 shares of the company’s stock valued at $186,000 after acquiring an additional 157,085 shares during the period. Hedge funds and other institutional investors own 33.84% of the company’s stock.

About Danimer Scientific

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.