Danimer Scientific (NYSE:DNMR) Shares to Reverse Split on Wednesday, November 13th

Danimer Scientific, Inc. (NYSE:DNMR)’s stock is set to reverse split before the market opens on Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, November 12th.

Danimer Scientific Trading Up 9.9 %

Shares of NYSE DNMR traded up $0.03 during midday trading on Tuesday, reaching $0.35. 678,874 shares of the stock were exchanged, compared to its average volume of 866,683. Danimer Scientific has a twelve month low of $0.29 and a twelve month high of $1.84. The stock has a market capitalization of $41.67 million, a P/E ratio of -0.28 and a beta of 1.63. The company has a 50 day simple moving average of $0.38 and a 200 day simple moving average of $0.51. 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 (NYSE:DNMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. Danimer Scientific had a negative net margin of 325.87% and a negative return on equity of 48.01%. The business had revenue of $7.63 million for the quarter, compared to the consensus estimate of $8.40 million. As a group, equities analysts expect that Danimer Scientific will post -0.81 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $2.00 to $1.00 in a research report on Tuesday, August 13th. Piper Sandler dropped their price objective on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st.

Institutional Investors Weigh In On Danimer Scientific

Hedge funds have recently made changes to their positions in the business. Armistice Capital LLC increased its stake in shares of 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 period. Vanguard Group Inc. increased its position in Danimer Scientific by 1.0% during the 1st 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 period. Capital Investment Advisors LLC increased its position in Danimer Scientific by 4.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock worth $286,000 after purchasing an additional 29,200 shares during the period. Diversified Trust Co raised its stake in shares of Danimer Scientific by 53.1% during the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after buying an additional 151,200 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Danimer Scientific in the 2nd quarter valued at approximately $62,000. 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.