Danimer Scientific (NYSE:DNMR) Shares Down 1.1% – Here’s Why

Danimer Scientific, Inc. (NYSE:DNMR) traded down 1.1% during trading on Thursday . The company traded as low as $1.20 and last traded at $1.30. 10,864 shares were traded during trading, a decline of 72% from the average session volume of 39,104 shares. The stock had previously closed at $1.31.

Analysts Set New Price Targets

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

Danimer Scientific Stock Performance

The company has a quick ratio of 2.05, a current ratio of 3.28 and a debt-to-equity ratio of 1.80. The stock has a market cap of $3.41 million, a price-to-earnings ratio of -0.03 and a beta of 1.49. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $8.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its position in Danimer Scientific by 18.5% in the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock worth $39,000 after buying an additional 13,473 shares during the last quarter. First Heartland Consultants Inc. grew 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 worth $37,000 after buying an additional 30,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Danimer Scientific by 9.2% in the third quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock worth $503,000 after buying an additional 93,672 shares during the last quarter. Institutional investors and hedge funds own 33.84% of the company’s stock.

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.