Short Interest in Danimer Scientific, Inc. (NYSE:DNMR) Drops By 97.8%

Danimer Scientific, Inc. (NYSE:DNMR) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 450,400 shares, a decrease of 97.8% from the October 31st total of 20,350,000 shares. Based on an average daily volume of 38,200 shares, the short-interest ratio is presently 11.8 days. Approximately 16.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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. Diversified Trust Co boosted 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 valued at $172,000 after buying an additional 75,000 shares during the last quarter. Armistice Capital LLC boosted its holdings in Danimer Scientific by 10.8% in the second quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock valued at $6,288,000 after acquiring an additional 1,014,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Danimer Scientific during the second quarter worth approximately $62,000. Finally, Privium Fund Management B.V. increased its holdings in Danimer Scientific by 67.6% in 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 last quarter. Institutional investors own 33.84% of the company’s stock.

Danimer Scientific Stock Up 30.7 %

Shares of NYSE DNMR traded up $1.41 during mid-day trading on Thursday, reaching $6.00. The company had a trading volume of 86,202 shares, compared to its average volume of 27,834. The company has a market capitalization of $18.02 million, a price-to-earnings ratio of -0.18 and a beta of 1.63. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.05 and a current ratio of 3.28. The stock has a fifty day moving average of $13.57 and a two-hundred day moving average of $18.82. Danimer Scientific has a 12-month low of $4.42 and a 12-month high of $73.60.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DNMR. TD Cowen decreased their price objective on shares of 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 lowered shares of Danimer Scientific from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $40.00 to $4.00 in a research report on Wednesday, November 20th.

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.