Danimer Scientific (NYSE:DNMR) Stock Price Down 23.4% – Here’s What Happened

Danimer Scientific, Inc. (NYSE:DNMR)’s share price was down 23.4% during trading on Wednesday . The stock traded as low as $2.83 and last traded at $2.88. Approximately 204,161 shares changed hands during trading, an increase of 570% from the average daily volume of 30,458 shares. The stock had previously closed at $3.76.

Wall Street Analysts Forecast Growth

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

Danimer Scientific Stock Performance

The company has a current ratio of 3.28, a quick ratio of 2.05 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $8.70 million, a P/E ratio of -0.09 and a beta of 1.43. The business’s 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $16.08.

Institutional Investors Weigh In On Danimer Scientific

Several large investors have recently bought and sold shares of DNMR. First Heartland Consultants Inc. lifted its holdings in Danimer Scientific by 58.1% in the third quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares during the period. XTX Topco Ltd boosted its holdings in shares of Danimer Scientific by 18.5% in the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock worth $39,000 after buying an additional 13,473 shares during the last quarter. Privium Fund Management B.V. increased its holdings 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 buying an additional 30,398 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Danimer Scientific in the second quarter worth approximately $62,000. Finally, Diversified Trust Co boosted 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 acquiring an additional 151,200 shares during the last quarter. 33.84% of the stock is currently owned by institutional investors.

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.