TD Cowen Issues Pessimistic Forecast for Danimer Scientific (NYSE:DNMR) Stock Price

Danimer Scientific (NYSE:DNMR) had its target price reduced by TD Cowen from $40.00 to $5.50 in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a hold rating on the stock.

Separately, Piper Sandler downgraded Danimer Scientific from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $40.00 to $4.00 in a report on Wednesday, November 20th.

Danimer Scientific Price Performance

NYSE:DNMR opened at $5.20 on Thursday. The stock has a market capitalization of $15.60 million, a PE ratio of -0.15 and a beta of 1.63. Danimer Scientific has a 52 week low of $5.00 and a 52 week high of $73.60. The company has a quick ratio of 3.15, a current ratio of 3.28 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average price is $14.01 and its 200-day moving average price is $19.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC increased its stake in shares of 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 buying an additional 1,014,000 shares during the period. Vanguard Group Inc. boosted its position 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 worth $5,526,000 after acquiring an additional 49,913 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Danimer Scientific by 9.2% in the third quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after purchasing an additional 93,672 shares in the last quarter. Capital Investment Advisors LLC raised its position in Danimer Scientific by 4.9% during the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after purchasing an additional 29,200 shares during the period. Finally, Diversified Trust Co increased its holdings in shares of Danimer Scientific by 53.1% in the third quarter. Diversified Trust Co now owns 436,200 shares of the company’s stock valued at $198,000 after purchasing an additional 151,200 shares during the period. 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.