Danimer Scientific (NYSE:DNMR) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Danimer Scientific (NYSE:DNMRGet Rating) released its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.03, MarketWatch Earnings reports. Danimer Scientific had a negative return on equity of 14.18% and a net margin of 13.66%. During the same quarter in the previous year, the company posted ($0.14) earnings per share.

Shares of NYSE DNMR traded up $0.33 during trading hours on Friday, reaching $3.67. The stock had a trading volume of 42,491 shares, compared to its average volume of 1,774,477. The firm has a market cap of $369.75 million, a price-to-earnings ratio of 37.12 and a beta of 1.52. The company has a current ratio of 7.83, a quick ratio of 7.26 and a debt-to-equity ratio of 0.52. Danimer Scientific has a fifty-two week low of $3.09 and a fifty-two week high of $29.50. The firm has a 50-day moving average of $4.88 and a 200-day moving average of $7.84.

In related news, CMO Scott Tuten sold 10,000 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of DNMR. Wells Fargo & Company MN raised its stake in Danimer Scientific by 46.1% during the 2nd quarter. Wells Fargo & Company MN now owns 61,397 shares of the company’s stock valued at $1,538,000 after acquiring an additional 19,379 shares during the last quarter. Morgan Stanley raised its stake in Danimer Scientific by 25.0% during the 2nd quarter. Morgan Stanley now owns 327,190 shares of the company’s stock valued at $8,197,000 after acquiring an additional 65,539 shares during the last quarter. Royal Bank of Canada raised its stake in Danimer Scientific by 1.9% during the 3rd quarter. Royal Bank of Canada now owns 65,461 shares of the company’s stock valued at $1,069,000 after acquiring an additional 1,190 shares during the last quarter. Millennium Management LLC raised its stake in Danimer Scientific by 108.3% during the 3rd quarter. Millennium Management LLC now owns 16,093 shares of the company’s stock valued at $263,000 after acquiring an additional 209,093 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Danimer Scientific by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 230,618 shares of the company’s stock valued at $3,768,000 after acquiring an additional 7,181 shares during the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research cut Danimer Scientific from a “hold” rating to a “strong sell” rating in a research report on Monday.

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.

Further Reading

Earnings History for Danimer Scientific (NYSE:DNMR)

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