Danimer Scientific (NYSE:DNMR) Hits New 1-Year Low – Here’s Why

Danimer Scientific, Inc. (NYSE:DNMR)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $7.00 and last traded at $8.19, with a volume of 27737 shares changing hands. The stock had previously closed at $10.00.

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Cowen lowered Danimer Scientific from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $40.00 in a research report on Tuesday, August 13th. Piper Sandler decreased their target price on Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st.

Danimer Scientific Price Performance

The business’s 50-day moving average is $0.37 and its 200-day moving average is $0.50. The company has a current ratio of 4.52, a quick ratio of 3.15 and a debt-to-equity ratio of 1.65.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Privium Fund Management B.V. raised its position in shares of 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 buying an additional 30,398 shares during the period. First Heartland Consultants Inc. increased its holdings in shares of 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 purchasing an additional 30,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Danimer Scientific during the second quarter worth approximately $62,000. Diversified Trust Co grew its position in Danimer Scientific by 35.7% in the 2nd quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock valued at $172,000 after buying an additional 75,000 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in Danimer Scientific by 4.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after buying an additional 29,200 shares during the period. 33.84% of the stock is currently owned by hedge funds and other institutional investors.

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.