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

Danimer Scientific, Inc. (NYSE:DNMR) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 18,470,000 shares, a decline of 10.0% from the July 15th total of 20,520,000 shares. Based on an average trading volume of 907,100 shares, the days-to-cover ratio is presently 20.4 days.

Danimer Scientific Stock Performance

Shares of NYSE:DNMR traded up $0.01 during trading on Monday, reaching $0.41. The stock had a trading volume of 429,773 shares, compared to its average volume of 949,652. The stock has a fifty day simple moving average of $0.54 and a two-hundred day simple moving average of $0.69. The company has a quick ratio of 4.91, a current ratio of 6.54 and a debt-to-equity ratio of 1.50. Danimer Scientific has a 52 week low of $0.32 and a 52 week high of $2.20. The firm has a market capitalization of $47.74 million, a price-to-earnings ratio of -0.28 and a beta of 1.58.

Analyst Upgrades and Downgrades

DNMR has been the subject of a number of recent research reports. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $2.00 to $1.00 in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Danimer Scientific from a “buy” rating to a “hold” rating and decreased their price target for the stock from $1.30 to $0.80 in a research note on Wednesday, May 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DNMR. SG Americas Securities LLC acquired a new stake in Danimer Scientific in the 4th quarter valued at approximately $41,000. Levin Capital Strategies L.P. grew its stake in shares of Danimer Scientific by 423.3% in the fourth quarter. Levin Capital Strategies L.P. now owns 78,500 shares of the company’s stock worth $80,000 after acquiring an additional 63,500 shares during the last quarter. Greenlight Capital Inc. increased its position in Danimer Scientific by 5.1% during the fourth quarter. Greenlight Capital Inc. now owns 2,734,580 shares of the company’s stock worth $2,789,000 after acquiring an additional 131,890 shares during the period. Virtu Financial LLC raised its stake in Danimer Scientific by 628.5% during the 4th quarter. Virtu Financial LLC now owns 182,078 shares of the company’s stock valued at $186,000 after purchasing an additional 157,085 shares during the last quarter. Finally, Thomasville National Bank boosted its holdings in Danimer Scientific by 125.8% in the 1st quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock valued at $194,000 after purchasing an additional 99,078 shares during the period. 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.