Danimer Scientific Stock Set to Reverse Split on Wednesday, November 13th (NYSE:DNMR)

Danimer Scientific, Inc. (NYSE:DNMR) shares are scheduled to reverse split on Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, November 12th.

Danimer Scientific Stock Up 9.9 %

DNMR stock traded up $0.03 during midday trading on Tuesday, hitting $0.35. The company’s stock had a trading volume of 678,874 shares, compared to its average volume of 866,683. The company’s fifty day moving average price is $0.38 and its 200 day moving average price is $0.51. The company has a debt-to-equity ratio of 1.65, a current ratio of 4.52 and a quick ratio of 3.15. Danimer Scientific has a twelve month low of $0.29 and a twelve month high of $1.84. The stock has a market capitalization of $41.67 million, a P/E ratio of -0.28 and a beta of 1.63.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Privium Fund Management B.V. lifted its stake in shares of Danimer Scientific by 67.6% during the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after buying an additional 30,398 shares during the last quarter. First Heartland Consultants Inc. raised its holdings in Danimer Scientific by 58.1% in the 3rd quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Danimer Scientific during the second quarter worth approximately $62,000. Diversified Trust Co boosted its holdings in shares of Danimer Scientific by 35.7% during the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after acquiring an additional 75,000 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Danimer Scientific by 4.9% during the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock worth $286,000 after acquiring an additional 29,200 shares during the period. 33.84% of the stock is currently owned by institutional investors.

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.