Danimer Scientific (NYSE:DNMR) Lowered to Underweight Rating by Piper Sandler

Piper Sandler downgraded shares of Danimer Scientific (NYSE:DNMR) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $4.00 target price on the stock, down from their prior target price of $40.00.

Separately, TD Cowen downgraded 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 research report on Tuesday, August 13th.

Danimer Scientific Stock Up 2.8 %

Danimer Scientific stock opened at $5.20 on Wednesday. Danimer Scientific has a twelve month low of $5.00 and a twelve month high of $73.60. The firm has a 50 day moving average price of $14.01 and a 200-day moving average price of $19.16. The company has a market capitalization of $15.60 million, a P/E ratio of -0.15 and a beta of 1.63. The company has a quick ratio of 3.15, a current ratio of 3.28 and a debt-to-equity ratio of 1.80.

Institutional Trading of Danimer Scientific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC raised its position in Danimer Scientific by 10.8% in the 2nd quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock worth $6,288,000 after purchasing an additional 1,014,000 shares during the period. Diversified Trust Co raised its position in Danimer Scientific by 53.1% in the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after purchasing an additional 151,200 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Danimer Scientific in the 2nd quarter worth $62,000. Geode Capital Management LLC raised its position in Danimer Scientific by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock worth $503,000 after purchasing an additional 93,672 shares during the period. Finally, Vanguard Group Inc. raised its position in Danimer Scientific by 1.0% in 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. 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.