Danimer Scientific (NYSE:DNMR) Stock Price Down 23.4% – Here’s Why

Danimer Scientific, Inc. (NYSE:DNMR)’s share price traded down 23.4% during mid-day trading on Wednesday . The company traded as low as $2.83 and last traded at $2.88. 204,161 shares were traded during mid-day trading, an increase of 570% from the average session volume of 30,458 shares. The stock had previously closed at $3.76.

Analysts Set New Price Targets

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

Danimer Scientific Price Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.05 and a current ratio of 3.28. The company has a market cap of $9.21 million, a price-to-earnings ratio of -0.09 and a beta of 1.43. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $15.80.

Institutional Investors Weigh In On Danimer Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd raised its position in Danimer Scientific by 18.5% during the 3rd quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock worth $39,000 after purchasing an additional 13,473 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Danimer Scientific by 4.9% in the third 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 during the period. First Heartland Consultants Inc. boosted its holdings 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. Privium Fund Management B.V. increased its position in Danimer Scientific by 67.6% during the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock valued at $42,000 after purchasing an additional 30,398 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Danimer Scientific by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after purchasing an additional 93,672 shares during the last quarter. Institutional investors 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.