TD Cowen Has Lowered Expectations for Danimer Scientific (NYSE:DNMR) Stock Price

Danimer Scientific (NYSE:DNMR) had its price objective lowered by equities research analysts at TD Cowen from $40.00 to $5.50 in a report released on Thursday, Marketbeat reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 5.77% from the company’s previous close.

Separately, Piper Sandler lowered shares of Danimer Scientific from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $40.00 to $4.00 in a research report on Wednesday.

Danimer Scientific Trading Up 2.8 %

Shares of Danimer Scientific stock opened at $5.20 on Thursday. The company’s fifty day moving average price is $14.01 and its two-hundred day moving average price is $19.20. The firm has a market capitalization of $15.62 million, a PE ratio of -0.15 and a beta of 1.63. Danimer Scientific has a 52-week low of $5.00 and a 52-week high of $73.60. The company has a debt-to-equity ratio of 1.65, a current ratio of 4.52 and a quick ratio of 3.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Privium Fund Management B.V. increased 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 worth $42,000 after purchasing an additional 30,398 shares in the last quarter. First Heartland Consultants Inc. grew its stake in Danimer Scientific by 58.1% during 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. XTX Topco Ltd increased its holdings in shares of Danimer Scientific by 18.5% during 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Danimer Scientific in the second quarter valued at approximately $62,000. Finally, Diversified Trust Co boosted its holdings in shares of Danimer Scientific by 35.7% in the 2nd quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after acquiring an additional 75,000 shares in the last quarter. 33.84% of the stock is owned by institutional investors.

About Danimer Scientific

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.