Danimer Scientific (NYSE:DNMR) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Danimer Scientific, Inc. (NYSE:DNMR) saw unusually-strong trading volume on Thursday . Approximately 14,215 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 23,453 shares.The stock last traded at $9.90 and had previously closed at $10.49.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DNMR shares. Piper Sandler decreased their price target on Danimer Scientific from $50.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. TD Cowen cut Danimer Scientific from a “buy” rating to a “hold” rating and lowered their price target for the stock from $80.00 to $40.00 in a report on Tuesday, August 13th.

Danimer Scientific Stock Down 2.3 %

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 stock has a market capitalization of $25.83 million, a P/E ratio of -0.18 and a beta of 1.63. The company has a fifty day moving average price of $14.76 and a 200-day moving average price of $19.80.

Hedge Funds Weigh In On Danimer Scientific

Institutional investors have recently bought and sold shares of the business. First Heartland Consultants Inc. raised its position in shares of Danimer Scientific by 58.1% during the 3rd quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after buying an additional 30,000 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Danimer Scientific by 18.5% in the 3rd quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock valued at $39,000 after purchasing an additional 13,473 shares during the last quarter. Privium Fund Management B.V. boosted its holdings 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 worth $42,000 after purchasing an additional 30,398 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Danimer Scientific during the 2nd quarter valued at approximately $62,000. Finally, Diversified Trust Co raised its holdings in Danimer Scientific by 35.7% during the 2nd 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. 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.