Danimer Scientific (NYSE:DNMR) Shares Down 8.1% – Time to Sell?

Shares of Danimer Scientific, Inc. (NYSE:DNMR) dropped 8.1% during mid-day trading on Thursday . The company traded as low as $1.66 and last traded at $1.70. Approximately 24,280 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 58,206 shares. The stock had previously closed at $1.85.

Analyst Ratings Changes

DNMR has been the subject of a number of recent analyst reports. Piper Sandler lowered Danimer Scientific from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $40.00 to $4.00 in a report on Wednesday, November 20th. TD Cowen decreased their price objective on Danimer Scientific from $40.00 to $5.50 and set a “hold” rating for the company in a report on Thursday, November 21st.

Danimer Scientific Price Performance

The stock has a market capitalization of $5.13 million, a price-to-earnings ratio of -0.05 and a beta of 1.52. The company has a quick ratio of 2.05, a current ratio of 3.28 and a debt-to-equity ratio of 1.80. The business has a 50-day simple moving average of $3.72 and a two-hundred day simple moving average of $11.96.

Institutional Investors Weigh In On Danimer Scientific

A number of institutional investors have recently added to or reduced their stakes in DNMR. First Heartland Consultants Inc. lifted its position in shares of Danimer Scientific by 58.1% during the 3rd quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Danimer Scientific by 18.5% during the 3rd quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after acquiring an additional 13,473 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Danimer Scientific during the 2nd quarter valued at $62,000. Diversified Trust Co lifted its position in shares of Danimer Scientific by 53.1% during the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock valued at $198,000 after acquiring an additional 151,200 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Danimer Scientific by 4.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after acquiring an additional 29,200 shares during the last quarter. 33.84% of the stock is currently owned by institutional investors and hedge funds.

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.