Danimer Scientific (NYSE:DNMR) Lowered to Underweight Rating by Piper Sandler

Piper Sandler lowered shares of Danimer Scientific (NYSE:DNMR) from a neutral rating to an underweight rating in a research note released on Wednesday, Marketbeat Ratings reports. Piper Sandler currently has $4.00 price objective on the stock, down from their previous price objective of $40.00.

Separately, TD Cowen lowered shares of Danimer Scientific from a “buy” rating to a “hold” rating and cut their target price for the company from $80.00 to $40.00 in a research report on Tuesday, August 13th.

Danimer Scientific Stock Performance

Shares of Danimer Scientific stock opened at $5.20 on Wednesday. Danimer Scientific has a fifty-two week low of $5.00 and a fifty-two week high of $73.60. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.28 and a quick ratio of 3.15. The firm has a market capitalization of $15.60 million, a P/E ratio of -0.15 and a beta of 1.63. The company’s 50 day moving average price is $14.01 and its two-hundred day moving average price is $19.16.

Institutional Investors Weigh In On Danimer Scientific

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