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

Shares of Danimer Scientific, Inc. (NYSE:DNMR) are set to reverse split before the market opens 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 Price Performance

Shares of DNMR stock opened at $0.29 on Friday. Danimer Scientific has a 1 year low of $0.29 and a 1 year high of $1.84. The company has a current ratio of 4.52, a quick ratio of 3.15 and a debt-to-equity ratio of 1.65. The firm’s 50 day moving average is $0.38 and its 200-day moving average is $0.51. The firm has a market capitalization of $34.81 million, a price-to-earnings ratio of -0.24 and a beta of 1.63.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DNMR shares. Piper Sandler dropped their target price on Danimer Scientific from $1.25 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. TD Cowen cut Danimer Scientific from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $2.00 to $1.00 in a report on Tuesday, August 13th.

Institutional Investors Weigh In On Danimer Scientific

Institutional investors have recently made changes to their positions in the stock. Capital Investment Advisors LLC lifted its stake in Danimer Scientific by 4.9% in the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock valued at $286,000 after buying an additional 29,200 shares during the period. First Heartland Consultants Inc. raised its position in shares of Danimer Scientific by 58.1% in the 3rd 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 during the period. Privium Fund Management B.V. boosted its stake in Danimer Scientific by 67.6% during the 2nd quarter. Privium Fund Management B.V. now owns 75,398 shares of the company’s stock worth $42,000 after acquiring an additional 30,398 shares during the last quarter. Vanguard Group Inc. grew its holdings in Danimer Scientific by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,070,069 shares of the company’s stock valued at $5,526,000 after purchasing an additional 49,913 shares during the period. Finally, Diversified Trust Co increased its stake in Danimer Scientific by 35.7% in the second quarter. Diversified Trust Co now owns 285,000 shares of the company’s stock valued at $172,000 after purchasing an additional 75,000 shares in the last quarter. 33.84% of the stock is 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.