Danimer Scientific (NYSE:DNMR) Sees Strong Trading Volume – Still a Buy?

Shares of Danimer Scientific, Inc. (NYSE:DNMR) saw unusually-high trading volume on Thursday . Approximately 14,215 shares were traded during mid-day 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

Several analysts have recently weighed in on DNMR shares. TD Cowen lowered shares of Danimer Scientific from a “buy” rating to a “hold” rating and lowered their price objective for the company from $80.00 to $40.00 in a research note on Tuesday, August 13th. Piper Sandler lowered their price objective on shares of Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, August 21st.

Danimer Scientific Stock Down 7.6 %

The company has a current ratio of 4.52, a quick ratio of 3.15 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $1.16 billion, a PE ratio of -6.99 and a beta of 1.63. The stock’s fifty day simple moving average is $14.90 and its 200-day simple moving average is $20.00.

Hedge Funds Weigh In On Danimer Scientific

Hedge funds have recently bought and sold shares of the company. Armistice Capital LLC raised its stake in shares of Danimer Scientific by 10.8% during the 2nd quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock worth $6,288,000 after purchasing an additional 1,014,000 shares during the period. Diversified Trust Co raised its stake in shares of Danimer Scientific by 53.1% during the 3rd quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock worth $198,000 after purchasing an additional 151,200 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Danimer Scientific during the 2nd quarter worth $62,000. Vanguard Group Inc. raised its stake in shares of Danimer Scientific by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock worth $5,526,000 after purchasing an additional 49,913 shares during the period. Finally, Privium Fund Management B.V. raised its stake in shares of Danimer Scientific by 67.6% during the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after purchasing an additional 30,398 shares during the period. 33.84% of the stock is owned by hedge funds and other institutional investors.

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.