Danimer Scientific, Inc. (NYSE:DNMR) Sees Large Decrease in Short Interest

Danimer Scientific, Inc. (NYSE:DNMR) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 18,800,000 shares, a decrease of 5.1% from the August 15th total of 19,820,000 shares. Based on an average daily trading volume, of 847,300 shares, the days-to-cover ratio is currently 22.2 days.

Hedge Funds Weigh In On Danimer Scientific

Hedge funds have recently bought and sold shares of the company. Greenlight Capital Inc. raised its holdings in shares of Danimer Scientific by 5.1% in the fourth quarter. Greenlight Capital Inc. now owns 2,734,580 shares of the company’s stock valued at $2,789,000 after purchasing an additional 131,890 shares during the last quarter. Virtu Financial LLC increased its stake in 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 buying an additional 157,085 shares during the last quarter. Thomasville National Bank increased its stake in 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 buying an additional 99,078 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Danimer Scientific by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock worth $5,526,000 after buying an additional 49,913 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Danimer Scientific by 35.7% in the 2nd quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after buying an additional 75,000 shares during the last quarter. 33.84% of the stock is owned by hedge funds and other institutional investors.

Danimer Scientific Price Performance

Shares of NYSE DNMR opened at $0.39 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 4.52. The firm’s 50-day simple moving average is $0.43 and its 200 day simple moving average is $0.63. The stock has a market cap of $45.40 million, a price-to-earnings ratio of -0.27 and a beta of 1.57. Danimer Scientific has a fifty-two week low of $0.29 and a fifty-two week high of $2.09.

Danimer Scientific (NYSE:DNMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. Danimer Scientific had a negative return on equity of 48.01% and a negative net margin of 325.87%. The company had revenue of $7.63 million for the quarter, compared to analyst estimates of $8.40 million. As a group, research analysts anticipate that Danimer Scientific will post -0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DNMR has been the subject of a number of research reports. Piper Sandler reduced their price objective on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. TD Cowen downgraded shares of Danimer Scientific from a “buy” rating to a “hold” rating and reduced their price target for the company from $2.00 to $1.00 in a research report on Tuesday, August 13th.

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.