Danimer Scientific (NYSE:DNMR) Trading Down 2.2%

Danimer Scientific, Inc. (NYSE:DNMR) shares were down 2.2% during mid-day trading on Friday . The company traded as low as $0.51 and last traded at $0.52. Approximately 428,180 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 960,504 shares. The stock had previously closed at $0.53.

Analysts Set New Price Targets

DNMR has been the topic of a number of recent analyst reports. Jefferies Financial Group cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and decreased their target price for the stock from $1.30 to $0.80 in a research note on Wednesday, May 22nd. TD Cowen lowered their target price on shares of Danimer Scientific from $2.25 to $1.50 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, Piper Sandler restated a “neutral” rating and issued a $0.94 price objective (down from $2.63) on shares of Danimer Scientific in a report on Tuesday, April 9th.

Danimer Scientific Stock Performance

The company’s fifty day moving average price is $0.64 and its 200-day moving average price is $0.70. The company has a current ratio of 6.54, a quick ratio of 4.91 and a debt-to-equity ratio of 1.50.

Danimer Scientific (NYSE:DNMR) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. Danimer Scientific had a negative net margin of 324.79% and a negative return on equity of 49.97%. The company had revenue of $10.22 million for the quarter, compared to the consensus estimate of $12.10 million. On average, analysts anticipate that Danimer Scientific, Inc. will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Danimer Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Danimer Scientific in the 4th quarter worth approximately $41,000. Vanguard Group Inc. increased its holdings in Danimer Scientific by 1.0% in 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 during the period. Diversified Trust Co grew its stake in shares of Danimer Scientific by 35.7% during the 2nd quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after purchasing an additional 75,000 shares during the period. Virtu Financial LLC grew its stake in shares of Danimer Scientific by 628.5% during the 4th quarter. Virtu Financial LLC now owns 182,078 shares of the company’s stock worth $186,000 after purchasing an additional 157,085 shares during the period. Finally, Thomasville National Bank grew its stake in shares of Danimer Scientific by 125.8% during the 1st quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock worth $194,000 after purchasing an additional 99,078 shares during the period. Institutional investors and hedge funds 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.