Danimer Scientific, Inc. (NYSE:DNMR) Short Interest Down 5.1% in August

Danimer Scientific, Inc. (NYSE:DNMR) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 18,800,000 shares, a drop of 5.1% from the August 15th total of 19,820,000 shares. Based on an average daily trading volume, of 847,300 shares, the short-interest ratio is currently 22.2 days.

Danimer Scientific Trading Up 10.7 %

DNMR traded up $0.04 on Thursday, reaching $0.38. 97,346 shares of the company traded hands, compared to its average volume of 900,055. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65. The company has a market cap of $44.24 million, a P/E ratio of -0.26 and a beta of 1.57. The firm has a fifty day simple moving average of $0.43 and a two-hundred day simple moving average of $0.63. Danimer Scientific has a one year low of $0.29 and a one year high of $2.09.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.06. The company 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, equities research analysts expect that Danimer Scientific will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On Danimer Scientific

Institutional investors have recently made changes to their positions in the company. Privium Fund Management B.V. grew its holdings in Danimer Scientific by 67.6% during 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 in the last quarter. Vanguard Group Inc. boosted its stake in shares of Danimer Scientific by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after purchasing an additional 49,913 shares in the last quarter. Diversified Trust Co increased its holdings in Danimer Scientific by 35.7% during the second 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 period. Thomasville National Bank raised its stake in Danimer Scientific by 125.8% in the first quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock worth $194,000 after buying an additional 99,078 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Danimer Scientific in the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 33.84% of the company’s stock.

Analyst Upgrades and Downgrades

DNMR has been the subject of several recent research reports. Jefferies Financial Group lowered Danimer Scientific from a “buy” rating to a “hold” rating and dropped their price target for the stock from $1.30 to $0.80 in a research report on Wednesday, May 22nd. Piper Sandler dropped their target price on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. Finally, TD Cowen downgraded Danimer Scientific from a “buy” rating to a “hold” rating and reduced their price target for the stock from $2.00 to $1.00 in a report on Tuesday, August 13th.

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.