Danimer Scientific, Inc. (NYSE:DNMR) Short Interest Up 7.3% in August

Danimer Scientific, Inc. (NYSE:DNMR) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 19,820,000 shares, an increase of 7.3% from the July 31st total of 18,470,000 shares. Based on an average daily volume of 883,900 shares, the days-to-cover ratio is currently 22.4 days.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen lowered shares of Danimer Scientific from a “buy” rating to a “hold” rating and decreased their target price for the company from $2.00 to $1.00 in a research report on Tuesday, August 13th. Jefferies Financial Group cut shares of Danimer Scientific from a “buy” rating to a “hold” rating and decreased their price objective for the company from $1.30 to $0.80 in a report on Wednesday, May 22nd. Finally, Piper Sandler dropped their target price on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st.

Danimer Scientific Price Performance

NYSE:DNMR opened at $0.35 on Wednesday. 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 business’s 50-day moving average price is $0.48 and its 200 day moving average price is $0.67. Danimer Scientific has a 52-week low of $0.32 and a 52-week high of $2.09. The firm has a market cap of $42.28 million, a P/E ratio of -0.25 and a beta of 1.58.

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

Institutional Investors Weigh In On Danimer Scientific

A number of institutional investors and hedge funds have recently modified their holdings of DNMR. Privium Fund Management B.V. lifted its position 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 valued at $42,000 after acquiring an additional 30,398 shares in the last quarter. Vanguard Group Inc. raised its stake in Danimer Scientific by 1.0% during the 1st 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 during the period. Diversified Trust Co lifted its holdings in shares of Danimer Scientific by 35.7% in the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock valued at $172,000 after purchasing an additional 75,000 shares in the last quarter. Thomasville National Bank lifted its holdings in shares of Danimer Scientific by 125.8% in the first quarter. Thomasville National Bank now owns 177,845 shares of the company’s stock valued at $194,000 after purchasing an additional 99,078 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Danimer Scientific in the second quarter worth $62,000. 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.