Danimer Scientific (NYSE:DNMR) Sets New 52-Week Low – What’s Next?

Danimer Scientific, Inc. (NYSE:DNMR)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $7.00 and last traded at $8.19, with a volume of 27737 shares trading hands. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

DNMR has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and reduced their target price for the company from $80.00 to $40.00 in a report on Tuesday, August 13th.

Danimer Scientific Stock Down 16.0 %

The stock has a market capitalization of $26.47 million, a PE ratio of -0.18 and a beta of 1.63. The firm’s fifty day moving average is $14.83 and its 200-day moving average is $19.92. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DNMR. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Diversified Trust Co raised its holdings in Danimer Scientific by 35.7% during the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after purchasing an additional 75,000 shares in the last quarter. Privium Fund Management B.V. raised its holdings in Danimer Scientific by 67.6% during the second quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after purchasing an additional 30,398 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Danimer Scientific in the second quarter valued at about $62,000. Finally, Armistice Capital LLC increased its holdings in 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 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.