Danimer Scientific (NYSE:DNMR) Downgraded to “Underweight” Rating by Piper Sandler

Danimer Scientific (NYSE:DNMR) was downgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $4.00 price target on the stock, down from their prior price target of $40.00. Piper Sandler’s price target would indicate a potential downside of 33.33% from the stock’s previous close.

Separately, TD Cowen downgraded Danimer Scientific from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $40.00 in a report on Tuesday, August 13th.

Danimer Scientific Stock Down 2.1 %

NYSE:DNMR traded down $0.13 during mid-day trading on Wednesday, reaching $6.00. The stock had a trading volume of 80,632 shares, compared to its average volume of 26,436. 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 company has a market capitalization of $18 million, a price-to-earnings ratio of -0.13 and a beta of 1.63. Danimer Scientific has a 1-year low of $5.31 and a 1-year high of $73.60. The stock’s 50 day simple moving average is $14.53 and its two-hundred day simple moving average is $19.53.

Institutional Trading of Danimer Scientific

Hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC grew its holdings in Danimer Scientific by 10.8% during the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock worth $6,288,000 after acquiring an additional 1,014,000 shares during the period. Diversified Trust Co grew its stake in shares of Danimer Scientific by 53.1% in the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after purchasing an additional 151,200 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Danimer Scientific in the second quarter worth approximately $62,000. Geode Capital Management LLC lifted its position in shares of Danimer Scientific by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after acquiring an additional 93,672 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Danimer Scientific by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock worth $5,526,000 after acquiring an additional 49,913 shares in the last quarter. Institutional investors own 33.84% of the company’s stock.

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.