Danimer Scientific, Inc. (NYSE:DNMR) Sees Large Growth in Short Interest

Danimer Scientific, Inc. (NYSE:DNMR) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 494,200 shares, a growth of 7.9% from the November 30th total of 457,900 shares. Based on an average daily volume of 67,300 shares, the days-to-cover ratio is presently 7.3 days. Currently, 18.2% of the company’s stock are sold short.

Analysts Set New Price Targets

Several analysts have issued reports on DNMR shares. TD Cowen lowered their price objective on shares of Danimer Scientific from $40.00 to $5.50 and set a “hold” rating for the company in a research report on Thursday, November 21st. Piper Sandler downgraded shares of Danimer Scientific from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $40.00 to $4.00 in a research note on Wednesday, November 20th.

Institutional Trading of Danimer Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in DNMR. Armistice Capital LLC boosted its stake in Danimer Scientific by 10.8% during the 2nd quarter. Armistice Capital LLC now owns 10,424,000 shares of the company’s stock valued at $6,288,000 after acquiring an additional 1,014,000 shares during the last quarter. Diversified Trust Co raised its stake in shares of Danimer Scientific by 53.1% in the 3rd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Danimer Scientific during the second quarter worth about $62,000. Geode Capital Management LLC grew its stake in Danimer Scientific by 9.2% in the third quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock worth $503,000 after purchasing an additional 93,672 shares in the last quarter. Finally, First Heartland Consultants Inc. increased its holdings 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 buying an additional 30,000 shares during the last quarter. Institutional investors own 33.84% of the company’s stock.

Danimer Scientific Price Performance

DNMR stock opened at $2.10 on Thursday. The stock’s 50 day moving average is $7.24 and its two-hundred day moving average is $14.43. Danimer Scientific has a 52-week low of $1.81 and a 52-week high of $73.60. The company has a market capitalization of $6.34 million, a PE ratio of -0.06 and a beta of 1.43. The company has a quick ratio of 2.05, a current ratio of 3.28 and a debt-to-equity ratio of 1.80.

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.