Danimer Scientific (NYSE:DNMR) Shares to Reverse Split on Wednesday, November 13th

Danimer Scientific, Inc. (NYSE:DNMR)’s stock is going to reverse split before the market opens on Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, November 12th.

Danimer Scientific Price Performance

Shares of NYSE DNMR traded up $0.03 during mid-day trading on Tuesday, hitting $0.35. 678,874 shares of the stock were exchanged, compared to its average volume of 866,683. Danimer Scientific has a twelve month low of $0.29 and a twelve month high of $1.84. The stock’s fifty day simple moving average is $0.38 and its two-hundred day simple moving average is $0.51. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 4.52. The company has a market cap of $41.67 million, a P/E ratio of -0.28 and a beta of 1.63.

Danimer Scientific (NYSE:DNMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. Danimer Scientific had a negative return on equity of 48.01% and a negative net margin of 325.87%. The business had revenue of $7.63 million for the quarter, compared to analyst estimates of $8.40 million. As a group, analysts forecast that Danimer Scientific will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DNMR. TD Cowen downgraded shares of Danimer Scientific from a “buy” rating to a “hold” rating and reduced their price target for the stock from $2.00 to $1.00 in a research report on Tuesday, August 13th. Piper Sandler reduced their target price on shares of Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 21st.

Institutional Trading of Danimer Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisors LLC grew its holdings in Danimer Scientific by 4.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock worth $286,000 after acquiring an additional 29,200 shares during the period. First Heartland Consultants Inc. grew its holdings in shares of 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 buying an additional 30,000 shares during the period. Privium Fund Management B.V. increased its position in shares of 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 buying an additional 30,398 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 buying an additional 49,913 shares during the period. Finally, Diversified Trust Co lifted its holdings in Danimer Scientific by 35.7% during the second 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 currently owned by institutional investors and hedge funds.

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.