Danimer Scientific Stock Scheduled to Reverse Split on Wednesday, November 13th (NYSE:DNMR)

Danimer Scientific, Inc. (NYSE:DNMR) shares are scheduled to reverse split on the morning of Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, November 12th.

Danimer Scientific Price Performance

DNMR traded up $0.03 during midday trading on Tuesday, reaching $0.35. 678,874 shares of the company’s stock were exchanged, compared to its average volume of 866,683. Danimer Scientific has a one year low of $0.29 and a one year high of $1.84. The firm has a market capitalization of $41.67 million, a price-to-earnings ratio of -0.28 and a beta of 1.63. The business has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.51. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The firm had revenue of $7.63 million for the quarter, compared to analysts’ expectations of $8.40 million. Danimer Scientific had a negative return on equity of 48.01% and a negative net margin of 325.87%. As a group, research analysts predict that Danimer Scientific will post -0.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. TD Cowen cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $2.00 to $1.00 in a research report on Tuesday, August 13th.

Institutional Trading of Danimer Scientific

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 49,913 shares during the period. Diversified Trust Co boosted its position in shares of Danimer Scientific by 35.7% during the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock worth $172,000 after buying an additional 75,000 shares during the period. Privium Fund Management B.V. grew its holdings in shares of Danimer Scientific by 67.6% during the second quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after buying an additional 30,398 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Danimer Scientific in the 2nd quarter valued at approximately $62,000. Finally, Armistice Capital LLC lifted its stake in Danimer Scientific by 10.8% in the 2nd 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 in the last quarter. Institutional investors 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.