TD Cowen Cuts Danimer Scientific (NYSE:DNMR) Price Target to $5.50

Danimer Scientific (NYSE:DNMR) had its price objective cut by TD Cowen from $40.00 to $5.50 in a research note published on Thursday,Briefing.com Automated Import reports. They currently have a hold rating on the stock.

Separately, Piper Sandler downgraded Danimer Scientific from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $40.00 to $4.00 in a report on Wednesday.

Danimer Scientific Stock Up 8.5 %

Shares of DNMR stock traded up $0.43 during trading hours on Thursday, hitting $5.49. 35,360 shares of the company’s stock traded hands, compared to its average volume of 27,081. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65. The stock’s fifty day simple moving average is $14.22 and its two-hundred day simple moving average is $19.33. Danimer Scientific has a 12-month low of $5.00 and a 12-month high of $73.60. The stock has a market cap of $16.47 million, a price-to-earnings ratio of -0.16 and a beta of 1.63.

Institutional Investors Weigh In On Danimer Scientific

A number of institutional investors have recently made changes to their positions in the company. First Heartland Consultants Inc. raised its position in Danimer Scientific by 58.1% in the 3rd quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock worth $37,000 after buying an additional 30,000 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Danimer Scientific by 18.5% during the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after purchasing an additional 13,473 shares during the last quarter. Privium Fund Management B.V. lifted its position in Danimer Scientific by 67.6% during the second quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock valued at $42,000 after purchasing an additional 30,398 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Danimer Scientific in the second quarter worth approximately $62,000. Finally, Diversified Trust Co grew its position in 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 period. Hedge funds and other institutional investors own 33.84% of the company’s stock.

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.