Danimer Scientific (NYSE:DNMR) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Danimer Scientific (NYSE:DNMRGet Rating) from a hold rating to a strong sell rating in a research note published on Monday morning, Zacks.com reports.

According to Zacks, “Danimer Scientific Inc. is a bioplastics company. It is focused on the development and production of biodegradable materials. Danimer Scientific Inc., formerly known as Live Oak Acquisition Corp., is based in United States. “

Danimer Scientific stock opened at $4.01 on Monday. The stock’s 50 day moving average price is $4.93 and its 200 day moving average price is $7.95. The firm has a market capitalization of $404.01 million, a PE ratio of -5.21 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.26 and a current ratio of 7.83. Danimer Scientific has a one year low of $3.09 and a one year high of $29.50.

Danimer Scientific (NYSE:DNMRGet Rating) last released its quarterly earnings results on Monday, February 28th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.11). The company had revenue of $17.73 million for the quarter. Danimer Scientific had a negative return on equity of 12.68% and a negative net margin of 102.31%. On average, analysts forecast that Danimer Scientific will post -0.7 earnings per share for the current fiscal year.

In other news, CMO Scott Tuten sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $4.50, for a total value of $45,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.90% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of DNMR. Fifth Third Bancorp grew its stake in Danimer Scientific by 600.0% during the 4th quarter. Fifth Third Bancorp now owns 3,500 shares of the company’s stock worth $30,000 after buying an additional 3,000 shares during the last quarter. SouthState Corp grew its stake in Danimer Scientific by 280.0% during the 1st quarter. SouthState Corp now owns 5,130 shares of the company’s stock worth $30,000 after buying an additional 3,780 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Danimer Scientific by 93.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,075 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Aspiriant LLC bought a new position in Danimer Scientific during the 1st quarter worth $59,000. Finally, Capital City Trust Co. FL acquired a new position in Danimer Scientific during the 1st quarter worth $70,000. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Danimer Scientific Company Profile (Get Rating)

Danimer Scientific, Inc, a performance polymer company, develops, produces, and provides bioplastic replacements for traditional petroleum-based plastics. It produces polyhydroxyalkanoate, a biodegradable plastic feedstock alternative used in a range of plastic applications, including films, 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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