Piper Sandler Trims Danimer Scientific (NYSE:DNMR) Target Price to $1.00

Danimer Scientific (NYSE:DNMR) had its price target lowered by investment analysts at Piper Sandler from $1.25 to $1.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 148.39% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $2.00 to $1.00 in a research report on Tuesday, August 13th. Jefferies Financial Group cut Danimer Scientific from a “buy” rating to a “hold” rating and lowered their target price for the company from $1.30 to $0.80 in a research note on Wednesday, May 22nd.

Danimer Scientific Price Performance

Shares of NYSE DNMR traded down $0.01 during trading on Wednesday, reaching $0.40. The company had a trading volume of 134,180 shares, compared to its average volume of 940,992. Danimer Scientific has a 52 week low of $0.32 and a 52 week high of $2.20. The business’s 50 day moving average price is $0.53 and its 200-day moving average price is $0.69. The stock has a market cap of $46.88 million, a PE ratio of -0.28 and a beta of 1.58. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.91 and a current ratio of 6.54.

Institutional Investors Weigh In On Danimer Scientific

Several institutional investors have recently modified their holdings of the business. Privium Fund Management B.V. lifted its holdings in Danimer Scientific by 67.6% in the second 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 during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Danimer Scientific during the 2nd quarter valued at $62,000. Levin Capital Strategies L.P. lifted its stake in shares of Danimer Scientific by 423.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 78,500 shares of the company’s stock valued at $80,000 after purchasing an additional 63,500 shares during the period. Diversified Trust Co boosted its position in shares of Danimer Scientific by 35.7% in the 2nd quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in shares of Danimer Scientific by 628.5% in the 4th quarter. Virtu Financial LLC now owns 182,078 shares of the company’s stock worth $186,000 after purchasing an additional 157,085 shares during the last quarter. Institutional investors and hedge funds 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.