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

Danimer Scientific (NYSE:DNMR) was downgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a research note issued on Wednesday, Marketbeat Ratings reports. They presently have a $4.00 price target on the stock, down from their previous price target of $40.00. Piper Sandler’s price objective would suggest a potential downside of 20.28% from the stock’s previous close.

Separately, TD Cowen cut 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 note on Tuesday, August 13th.

Danimer Scientific Trading Down 12.1 %

Shares of NYSE:DNMR opened at $5.02 on Wednesday. Danimer Scientific has a 52-week low of $5.00 and a 52-week high of $73.60. The company has a market cap of $15.05 million, a P/E ratio of -0.15 and a beta of 1.63. The stock’s 50-day moving average is $14.22 and its 200-day moving average is $19.33. The company has a debt-to-equity ratio of 1.65, a quick ratio of 3.15 and a current ratio of 4.52.

Hedge Funds Weigh In On Danimer Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC lifted its position in 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 buying an additional 1,014,000 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $5,526,000 after buying an additional 49,913 shares during the last quarter. Geode Capital Management LLC grew its stake in Danimer Scientific by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after buying an additional 93,672 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Danimer Scientific by 4.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock worth $286,000 after purchasing an additional 29,200 shares in the last quarter. Finally, Diversified Trust Co grew its position 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 in the last quarter. 33.84% of the stock is owned by institutional investors and hedge funds.

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.