Danimer Scientific (NYSE:DNMR) Trading Up 2.7%

Shares of Danimer Scientific, Inc. (NYSE:DNMR) were up 2.7% during mid-day trading on Thursday . The stock traded as high as $0.58 and last traded at $0.57. Approximately 316,918 shares were traded during trading, a decline of 73% from the average daily volume of 1,162,417 shares. The stock had previously closed at $0.56.

Analysts Set New Price Targets

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

Danimer Scientific Price Performance

The company’s 50-day simple moving average is $0.67 and its 200-day simple moving average is $0.72. The stock has a market capitalization of $66.37 million, a price-to-earnings ratio of -0.40 and a beta of 1.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.54 and a quick ratio of 4.91.

Danimer Scientific (NYSE:DNMR) last announced its earnings results on Tuesday, May 7th. The company reported ($0.26) EPS 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 analysts’ expectations of $12.10 million. Research analysts forecast that Danimer Scientific, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Danimer Scientific by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after acquiring an additional 49,913 shares during the last quarter. Greenlight Capital Inc. increased its stake in Danimer Scientific by 5.1% in the fourth quarter. Greenlight Capital Inc. now owns 2,734,580 shares of the company’s stock valued at $2,789,000 after acquiring an additional 131,890 shares during the last quarter. Virtu Financial LLC increased its stake in Danimer Scientific by 628.5% in the fourth quarter. Virtu Financial LLC now owns 182,078 shares of the company’s stock valued at $186,000 after acquiring an additional 157,085 shares during the last quarter. Thomasville National Bank increased its stake in Danimer Scientific by 125.8% in the first quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock valued at $194,000 after acquiring an additional 99,078 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC bought a new position in Danimer Scientific in the third quarter valued at approximately $208,000. 33.84% of the stock is owned by institutional investors.

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.