Danimer Scientific (NYSE:DNMR) Sees Strong Trading Volume – Here’s What Happened

Danimer Scientific, Inc. (NYSE:DNMR) saw an uptick in trading volume on Thursday . 14,215 shares were traded during trading, a decline of 39% from the previous session’s volume of 23,453 shares.The stock last traded at $9.90 and had previously closed at $10.49.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen lowered Danimer Scientific from a “buy” rating to a “hold” rating and reduced their target price for the stock from $80.00 to $40.00 in a research note on Tuesday, August 13th. Piper Sandler cut their price target on Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st.

Danimer Scientific Stock Down 2.3 %

The business’s fifty day moving average price is $14.76 and its two-hundred day moving average price is $19.80. 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 firm has a market capitalization of $25.83 million, a P/E ratio of -0.18 and a beta of 1.63.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Danimer Scientific by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after purchasing an additional 49,913 shares during the period. Diversified Trust Co boosted its position in Danimer Scientific by 35.7% in the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock valued at $172,000 after buying an additional 75,000 shares during the last quarter. Privium Fund Management B.V. increased its holdings in Danimer Scientific by 67.6% in the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after buying an additional 30,398 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Danimer Scientific during the 2nd quarter worth approximately $62,000. Finally, Armistice Capital LLC lifted its stake in Danimer Scientific by 10.8% during the 2nd quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock valued at $6,288,000 after acquiring an additional 1,014,000 shares during the period. 33.84% of the stock is 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.