Danimer Scientific (NYSE:DNMR) Shares Down 8.1% – Time to Sell?

Shares of Danimer Scientific, Inc. (NYSE:DNMR) were down 8.1% during mid-day trading on Thursday . The company traded as low as $1.66 and last traded at $1.70. Approximately 24,280 shares traded hands during trading, a decline of 58% from the average daily volume of 58,206 shares. The stock had previously closed at $1.85.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DNMR shares. TD Cowen lowered their price target on Danimer Scientific from $40.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, November 21st. Piper Sandler cut Danimer Scientific from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $40.00 to $4.00 in a research note on Wednesday, November 20th.

Danimer Scientific Stock Performance

The stock has a 50 day simple moving average of $3.72 and a 200 day simple moving average of $11.96. The company has a market cap of $5.13 million, a price-to-earnings ratio of -0.05 and a beta of 1.52. The company has a quick ratio of 2.05, a current ratio of 3.28 and a debt-to-equity ratio of 1.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DNMR. First Heartland Consultants Inc. lifted its stake in shares of Danimer Scientific by 58.1% in the third quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock worth $37,000 after acquiring an additional 30,000 shares in the last quarter. XTX Topco Ltd increased its holdings in Danimer Scientific by 18.5% in the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after buying an additional 13,473 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Danimer Scientific during the second quarter valued at approximately $62,000. Diversified Trust Co grew its holdings in shares of Danimer Scientific by 53.1% during the third quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock valued at $198,000 after purchasing an additional 151,200 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of Danimer Scientific by 4.9% during the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after purchasing an additional 29,200 shares during the last quarter. Institutional investors and hedge funds 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.