Danimer Scientific (NYSE:DNMR) Hits New 1-Year Low at $6.87

Danimer Scientific, Inc. (NYSE:DNMR) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.87 and last traded at $6.91, with a volume of 31218 shares changing hands. The stock had previously closed at $7.12.

DNMR has been the subject of several recent research reports. Cowen initiated coverage on Danimer Scientific in a research note on Thursday, September 23rd. They issued an “outperform” rating and a $21.00 price objective for the company. Jefferies Financial Group decreased their price objective on Danimer Scientific from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, November 16th. Finally, Zacks Investment Research cut Danimer Scientific from a “hold” rating to a “sell” rating in a research note on Wednesday, January 5th.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.62 and a current ratio of 7.36. The company has a 50 day simple moving average of $11.58 and a 200 day simple moving average of $15.81.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings results on Monday, November 15th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.06). The firm had revenue of $13.37 million for the quarter. Danimer Scientific had a negative return on equity of 8.43% and a negative net margin of 102.95%. Sell-side analysts anticipate that Danimer Scientific, Inc. will post -0.53 EPS for the current fiscal year.

In other news, CMO Scott Tuten sold 10,000 shares of the stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $15.54, for a total value of $155,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 30,000 shares of company stock valued at $383,300 over the last 90 days. 14.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in Danimer Scientific by 30.7% in the third quarter. Invesco Ltd. now owns 6,866,156 shares of the company’s stock valued at $112,193,000 after purchasing an additional 1,611,448 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Danimer Scientific by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 6,058,670 shares of the company’s stock worth $151,771,000 after buying an additional 703,343 shares during the last quarter. BlackRock Inc. lifted its holdings in Danimer Scientific by 213.2% during the 2nd quarter. BlackRock Inc. now owns 4,559,074 shares of the company’s stock worth $114,204,000 after buying an additional 3,103,517 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Danimer Scientific by 69.1% during the 3rd quarter. Goldman Sachs Group Inc. now owns 1,555,630 shares of the company’s stock worth $25,419,000 after buying an additional 635,685 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Danimer Scientific by 199.0% during the 2nd quarter. Marshall Wace LLP now owns 1,315,862 shares of the company’s stock worth $32,962,000 after buying an additional 875,763 shares during the last quarter. 48.46% of the stock is owned by hedge funds and other institutional investors.

About Danimer Scientific (NYSE:DNMR)

Danimer Scientific, Inc, a performance polymer company, develops, produces, and provides bioplastic replacements for traditional petrochemical-based plastics. It produces polyhydroxyalkanoate, a biodegradable plastic feedstock alternative used in a range of plastic applications, including water bottles, straws, food containers, and other things under the Nodax brand name; polylactic acid-based resins for coating disposable paper cups; and other biopolymers.

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