Short Interest in Danimer Scientific, Inc. (NYSE:DNMR) Drops By 97.8%

Danimer Scientific, Inc. (NYSE:DNMR) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 450,400 shares, a drop of 97.8% from the October 31st total of 20,350,000 shares. Approximately 16.6% of the company’s stock are sold short. Based on an average trading volume of 38,200 shares, the short-interest ratio is currently 11.8 days.

Wall Street Analyst Weigh In

A number of analysts have recently 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 on the stock in a report on Thursday, November 21st. Piper Sandler lowered Danimer Scientific from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $40.00 to $4.00 in a research note on Wednesday, November 20th.

Hedge Funds Weigh In On Danimer Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNMR. Geode Capital Management LLC lifted its stake in shares of Danimer Scientific by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,107,910 shares of the company’s stock valued at $503,000 after purchasing an additional 93,672 shares during the period. XTX Topco Ltd boosted its holdings in Danimer Scientific by 18.5% during the third quarter. XTX Topco Ltd now owns 86,252 shares of the company’s stock worth $39,000 after purchasing an additional 13,473 shares during the last quarter. First Heartland Consultants Inc. increased its position in shares of Danimer Scientific by 58.1% during the 3rd quarter. First Heartland Consultants Inc. now owns 81,674 shares of the company’s stock valued at $37,000 after purchasing an additional 30,000 shares during the last quarter. Capital Investment Advisors LLC raised its position in Danimer Scientific by 4.9% in the third quarter. Capital Investment Advisors LLC now owns 630,329 shares of the company’s stock worth $286,000 after acquiring an additional 29,200 shares during the period. Finally, Diversified Trust Co grew its holdings in Danimer Scientific by 53.1% during the third 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 during the period. Institutional investors own 33.84% of the company’s stock.

Danimer Scientific Price Performance

Danimer Scientific stock traded up $1.41 during trading hours on Thursday, reaching $6.00. 86,202 shares of the stock were exchanged, compared to its average volume of 27,834. The stock has a 50 day moving average of $13.57 and a two-hundred day moving average of $18.82. Danimer Scientific has a twelve month low of $4.42 and a twelve month high of $73.60. The company has a current ratio of 3.28, a quick ratio of 2.05 and a debt-to-equity ratio of 1.80. The company has a market cap of $18.02 million, a P/E ratio of -0.18 and a beta of 1.63.

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.