Danimer Scientific, Inc. (NYSE:DNMR – Get Free Report) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 18,470,000 shares, a drop of 10.0% from the July 15th total of 20,520,000 shares. Based on an average daily trading volume, of 907,100 shares, the short-interest ratio is currently 20.4 days.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on DNMR. TD Cowen cut Danimer Scientific from a “buy” rating to a “hold” rating and lowered their target price for the stock from $2.00 to $1.00 in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Danimer Scientific from a “buy” rating to a “hold” rating and lowered their price objective for the company from $1.30 to $0.80 in a research note on Wednesday, May 22nd.
Read Our Latest Report on Danimer Scientific
Danimer Scientific Trading Up 1.3 %
Hedge Funds Weigh In On Danimer Scientific
A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Danimer Scientific during the fourth quarter worth $41,000. Privium Fund Management B.V. grew its holdings in 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 acquiring an additional 30,398 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Danimer Scientific in the 2nd quarter worth about $62,000. Levin Capital Strategies L.P. lifted its stake 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 purchasing an additional 63,500 shares during the period. Finally, Diversified Trust Co lifted 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 valued at $172,000 after purchasing an additional 75,000 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.
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