TD Cowen Lowers Danimer Scientific (NYSE:DNMR) Price Target to $5.50

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

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

Danimer Scientific Stock Down 7.0 %

DNMR opened at $5.70 on Thursday. Danimer Scientific has a one year low of $5.31 and a one year high of $73.60. The company has a market cap of $17.10 million, a price-to-earnings ratio of -0.17 and a beta of 1.63. The business’s fifty day moving average is $14.38 and its two-hundred day moving average is $19.43. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 4.52.

Institutional Trading of Danimer Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Danimer Scientific by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after purchasing an additional 49,913 shares during the last quarter. Diversified Trust Co raised its position 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 buying an additional 75,000 shares during the period. Privium Fund Management B.V. boosted its holdings 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 acquiring an additional 30,398 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Danimer Scientific during the second quarter valued at about $62,000. Finally, Armistice Capital LLC increased its stake in Danimer Scientific by 10.8% during the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock worth $6,288,000 after acquiring an additional 1,014,000 shares during the last quarter. Hedge funds and other institutional investors own 33.84% of the company’s stock.

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.