Danimer Scientific (NYSE:DNMR) Sees Unusually-High Trading Volume – What’s Next?

Danimer Scientific, Inc. (NYSE:DNMR) saw strong trading volume on Thursday . 14,215 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 23,453 shares.The stock last traded at $9.90 and had previously closed at $10.49.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DNMR. TD Cowen cut Danimer Scientific from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $40.00 in a research note on Tuesday, August 13th. Piper Sandler cut their target price on Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st.

Danimer Scientific Stock Performance

The company has a debt-to-equity ratio of 1.65, a current ratio of 4.52 and a quick ratio of 3.15. The stock has a market capitalization of $1.16 billion, a PE ratio of -6.99 and a beta of 1.63. The business has a 50 day moving average price of $14.90 and a 200 day moving average price of $20.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Danimer Scientific by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after acquiring an additional 49,913 shares during the period. Diversified Trust Co lifted its stake 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 in the last quarter. Privium Fund Management B.V. lifted its stake in Danimer Scientific by 67.6% in the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after purchasing an additional 30,398 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Danimer Scientific in the 2nd quarter worth approximately $62,000. Finally, Armistice Capital LLC lifted its stake 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 in the last quarter. 33.84% of the stock is 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.