Danimer Scientific (NYSE:DNMR) Shares Down 1.1% – Here’s Why

Danimer Scientific, Inc. (NYSE:DNMR) traded down 1.1% during mid-day trading on Thursday . The company traded as low as $1.20 and last traded at $1.30. 10,864 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 39,104 shares. The stock had previously closed at $1.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen cut their target price on shares of Danimer Scientific from $40.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, November 21st. Piper Sandler cut shares of Danimer Scientific from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $40.00 to $4.00 in a report on Wednesday, November 20th.

Danimer Scientific Stock Down 12.7 %

The firm’s 50 day simple moving average is $1.59 and its 200 day simple moving average is $8.15. The company has a market cap of $3.41 million, a price-to-earnings ratio of -0.03 and a beta of 1.49. The company has a quick ratio of 2.05, a current ratio of 3.28 and a debt-to-equity ratio of 1.80.

Institutional Investors Weigh In On Danimer Scientific

Several large investors have recently made changes to their positions in DNMR. First Heartland Consultants Inc. increased its stake in shares of Danimer Scientific by 58.1% in the third quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after purchasing an additional 30,000 shares during the period. XTX Topco Ltd increased its stake in shares of Danimer Scientific by 18.5% in the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after purchasing an additional 13,473 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Danimer Scientific by 9.2% in the third quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after purchasing an additional 93,672 shares during the period. Institutional investors and hedge funds own 33.84% of the company’s stock.

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.