TD Cowen Issues Pessimistic Forecast for Danimer Scientific (NYSE:DNMR) Stock Price

Danimer Scientific (NYSE:DNMR) had its price objective reduced by analysts at TD Cowen from $40.00 to $5.50 in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential downside of 3.51% from the company’s current price.

Separately, Piper Sandler downgraded shares of Danimer Scientific from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $40.00 to $4.00 in a research note on Wednesday.

Danimer Scientific Stock Down 7.0 %

Danimer Scientific stock opened at $5.70 on Thursday. The company has a market capitalization of $17.10 million, a PE ratio of -0.17 and a beta of 1.63. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 4.52. Danimer Scientific has a fifty-two week low of $5.31 and a fifty-two week high of $73.60. The firm has a 50 day moving average price of $14.38 and a 200 day moving average price of $19.43.

Hedge Funds Weigh In On Danimer Scientific

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Danimer Scientific by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock worth $5,526,000 after purchasing an additional 49,913 shares during the last quarter. 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 worth $172,000 after acquiring an additional 75,000 shares during the period. Privium Fund Management B.V. lifted its position in Danimer Scientific by 67.6% in the second quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock valued at $42,000 after purchasing an additional 30,398 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Danimer Scientific in the second quarter valued at approximately $62,000. Finally, Armistice Capital LLC boosted its stake in shares of Danimer Scientific by 10.8% in the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock valued at $6,288,000 after buying an additional 1,014,000 shares in the last quarter. 33.84% of the stock is currently owned by hedge funds and other 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.