Danimer Scientific (NYSE:DNMR) Hits New 1-Year Low – Should You Sell?

Danimer Scientific, Inc. (NYSE:DNMR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.00 and last traded at $8.19, with a volume of 27737 shares changing hands. The stock had previously closed at $10.00.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DNMR. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and dropped their target price for the company from $80.00 to $40.00 in a report on Tuesday, August 13th. Piper Sandler dropped their target price on shares of Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st.

Danimer Scientific Stock Down 16.0 %

The firm’s 50-day moving average price is $14.83 and its 200 day moving average price is $19.92. The firm has a market capitalization of $26.47 million, a price-to-earnings ratio of -0.18 and a beta of 1.63. The company has a debt-to-equity ratio of 1.65, a current ratio of 4.52 and a quick ratio of 3.15.

Institutional Trading of Danimer Scientific

Several large investors have recently modified their holdings of the business. Armistice Capital LLC grew its position in shares of Danimer Scientific by 10.8% in the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock valued at $6,288,000 after purchasing an additional 1,014,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Danimer Scientific by 1.0% during the first 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 during the last quarter. Capital Investment Advisors LLC boosted its position in Danimer Scientific by 4.9% during the third 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 last quarter. Diversified Trust Co boosted its position in Danimer Scientific by 53.1% during the third quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after acquiring an additional 151,200 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Danimer Scientific during the second quarter worth approximately $62,000. 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.