Danimer Scientific (NYSE:DNMR) Trading Down 8.1% – Here’s Why

Danimer Scientific, Inc. (NYSE:DNMR) shares fell 8.1% during mid-day trading on Thursday . The company traded as low as $1.66 and last traded at $1.70. 24,280 shares changed hands during trading, a decline of 58% from the average session volume of 58,206 shares. The stock had previously closed at $1.85.

Analyst Upgrades and Downgrades

DNMR has been the subject of several analyst reports. TD Cowen decreased their price objective on Danimer Scientific from $40.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, November 21st. Piper Sandler downgraded Danimer Scientific from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $40.00 to $4.00 in a report on Wednesday, November 20th.

Danimer Scientific Stock Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.05 and a current ratio of 3.28. The firm’s 50 day moving average is $3.59 and its 200-day moving average is $11.81. The company has a market cap of $5.29 million, a PE ratio of -0.05 and a beta of 1.52.

Institutional Trading of Danimer Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in DNMR. Geode Capital Management LLC increased its position in shares of Danimer Scientific by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock worth $503,000 after purchasing an additional 93,672 shares during the last quarter. XTX Topco Ltd increased its position in shares of Danimer Scientific by 18.5% during the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after acquiring an additional 13,473 shares during the last quarter. First Heartland Consultants Inc. raised its stake in shares of 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. Capital Investment Advisors LLC lifted its holdings in shares of Danimer Scientific by 4.9% in the 3rd 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 last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Danimer Scientific by 53.1% in the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after acquiring an additional 151,200 shares during the last quarter. 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.