Danimer Scientific (NYSE:DNMR) Stock Price Down 8.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler lowered Danimer Scientific from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $40.00 to $4.00 in a research report on Wednesday, November 20th. TD Cowen cut their price target on Danimer Scientific from $40.00 to $5.50 and set a “hold” rating on the stock in a report on Thursday, November 21st.

Danimer Scientific Stock Up 2.9 %

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

Hedge Funds Weigh In On Danimer Scientific

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Danimer Scientific during the 2nd quarter worth approximately $62,000. Diversified Trust Co raised its stake in 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 acquiring an additional 151,200 shares in the last quarter. Capital Investment Advisors LLC raised its stake 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 acquiring an additional 29,200 shares in the last quarter. First Heartland Consultants Inc. lifted its position in Danimer Scientific by 58.1% in the third 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 last quarter. Finally, XTX Topco Ltd boosted its position in shares of Danimer Scientific by 18.5% in the 3rd quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after purchasing an additional 13,473 shares during the period. Hedge funds and other institutional investors 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.