Danimer Scientific, Inc. (NYSE:DNMR) Sees Significant Decline in Short Interest

Danimer Scientific, Inc. (NYSE:DNMR) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 450,400 shares, a drop of 97.8% from the October 31st total of 20,350,000 shares. Approximately 16.6% of the company’s stock are sold short. Based on an average trading volume of 38,200 shares, the short-interest ratio is presently 11.8 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DNMR shares. Piper Sandler cut Danimer Scientific from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $40.00 to $4.00 in a research note on Wednesday, November 20th. TD Cowen cut their price target on Danimer Scientific from $40.00 to $5.50 and set a “hold” rating on the stock in a research note on Thursday, November 21st.

Institutional Investors Weigh In On Danimer Scientific

A number of institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its holdings in Danimer Scientific by 18.5% in the 3rd quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after purchasing an additional 13,473 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings 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 purchasing an additional 29,200 shares in the last quarter. First Heartland Consultants Inc. boosted its holdings in Danimer Scientific by 58.1% in the 3rd 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 in the last quarter. Privium Fund Management B.V. boosted its holdings 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 valued at $42,000 after purchasing an additional 30,398 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Danimer Scientific by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after purchasing an additional 49,913 shares in the last quarter. Hedge funds and other institutional investors own 33.84% of the company’s stock.

Danimer Scientific Stock Performance

Shares of NYSE DNMR traded up $1.41 during midday trading on Wednesday, reaching $6.00. 84,947 shares of the company were exchanged, compared to its average volume of 27,834. The company has a current ratio of 3.28, a quick ratio of 2.05 and a debt-to-equity ratio of 1.80. Danimer Scientific has a 1 year low of $4.42 and a 1 year high of $73.60. The stock has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $18.82. The stock has a market cap of $18.02 million, a P/E ratio of -0.18 and a beta of 1.63.

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.