Danimer Scientific Stock Scheduled to Reverse Split on Wednesday, November 13th (NYSE:DNMR)

Danimer Scientific, Inc. (NYSE:DNMR)’s stock is going to reverse split on Wednesday, November 13th. The 1-40 reverse split was announced on Friday, November 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, November 12th.

Danimer Scientific Trading Up 9.9 %

Shares of DNMR stock traded up $0.03 during mid-day trading on Tuesday, hitting $0.35. 678,874 shares of the company’s stock were exchanged, compared to its average volume of 866,683. The stock has a market cap of $41.67 million, a price-to-earnings ratio of -0.28 and a beta of 1.63. The stock has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.51. Danimer Scientific has a fifty-two week low of $0.29 and a fifty-two week high of $1.84. The company has a quick ratio of 3.15, a current ratio of 4.52 and a debt-to-equity ratio of 1.65.

Danimer Scientific (NYSE:DNMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.06. Danimer Scientific had a negative return on equity of 48.01% and a negative net margin of 325.87%. The company had revenue of $7.63 million during the quarter, compared to analysts’ expectations of $8.40 million. Equities analysts expect that Danimer Scientific will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DNMR shares. Piper Sandler decreased their price target on shares of Danimer Scientific from $1.25 to $1.00 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 reduced their target price for the company from $2.00 to $1.00 in a report on Tuesday, August 13th.

Institutional Trading of Danimer Scientific

Several large investors have recently added to or reduced their stakes in the stock. First Heartland Consultants Inc. grew its position in Danimer Scientific by 58.1% in the third quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after acquiring an additional 30,000 shares in the last quarter. Privium Fund Management B.V. lifted its holdings in 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 buying an additional 30,398 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Danimer Scientific in the 2nd quarter valued at about $62,000. Diversified Trust Co grew its stake in shares of 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 acquiring an additional 75,000 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 29,200 shares in the last quarter. 33.84% of the stock is currently 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.