Danimer Scientific (NYSE:DNMR) Stock Price Down 10.6%

Shares of Danimer Scientific, Inc. (NYSE:DNMR) were down 10.6% during trading on Wednesday . The company traded as low as $15.31 and last traded at $15.42. Approximately 270,805 shares changed hands during trading, a decline of 89% from the average daily volume of 2,479,811 shares. The stock had previously closed at $17.24.

Separately, Zacks Investment Research cut shares of Danimer Scientific from a “hold” rating to a “sell” rating in a report on Thursday, September 9th.

The stock’s 50 day moving average price is $18.47 and its 200-day moving average price is $25.15. The company has a quick ratio of 14.98, a current ratio of 15.59 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.42 billion, a PE ratio of -37.09 and a beta of -1.15.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings data on Monday, August 16th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). The firm had revenue of $14.47 million for the quarter. On average, analysts forecast that Danimer Scientific, Inc. will post -0.2 earnings per share for the current year.

In related news, CMO Scott Tuten sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 17th. The shares were sold at an average price of $14.73, for a total transaction of $147,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Large investors have recently modified their holdings of the stock. CKW Financial Group bought a new position in shares of Danimer Scientific during the first quarter worth $28,000. Pittenger & Anderson Inc. bought a new position in Danimer Scientific during the first quarter valued at $28,000. HighMark Wealth Management LLC bought a new position in Danimer Scientific during the second quarter valued at $28,000. Spectrum Management Group LLC bought a new position in Danimer Scientific during the first quarter valued at $38,000. Finally, Jacobi Capital Management LLC bought a new position in Danimer Scientific during the first quarter valued at $38,000. Hedge funds and other institutional investors own 46.71% of the company’s stock.

About Danimer Scientific (NYSE:DNMR)

Danimer Scientific, Inc, a performance polymer company, develops, produces, and provides bioplastic replacements for traditional petrochemical-based plastics. It produces polyhydroxyalkanoate, a biodegradable plastic feedstock alternative used in a range of plastic applications, including water bottles, straws, food containers, and other things under the Nodax brand name; polylactic acid-based resins for coating disposable paper cups; and other biopolymers.

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