Danimer Scientific (NYSE:DNMR) Upgraded at Zacks Investment Research

Danimer Scientific (NYSE:DNMR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, 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. “

Separately, Cowen started coverage on Danimer Scientific in a report on Thursday. They set an “outperform” rating and a $21.00 target price for the company.

Shares of NYSE DNMR traded up $1.60 during mid-day trading on Thursday, hitting $17.44. 2,087,267 shares of the company traded hands, compared to its average volume of 2,534,659. Danimer Scientific has a 1 year low of $10.03 and a 1 year high of $66.30. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -40.56 and a beta of -1.15. 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 business has a 50 day moving average of $17.50 and a two-hundred day moving average of $24.34.

Danimer Scientific (NYSE:DNMR) last announced its earnings results on Monday, August 16th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $14.47 million during the quarter. As a group, research analysts anticipate that Danimer Scientific will post -0.2 EPS for the current year.

In related news, CMO Scott Tuten sold 10,000 shares of the stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $14.73, for a total value of $147,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Danimer Scientific by 13.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,058,670 shares of the company’s stock worth $151,771,000 after acquiring an additional 703,343 shares in the last quarter. Invesco Ltd. lifted its stake in Danimer Scientific by 150.1% in the 2nd quarter. Invesco Ltd. now owns 5,254,708 shares of the company’s stock worth $131,630,000 after acquiring an additional 3,153,623 shares in the last quarter. BlackRock Inc. lifted its stake in Danimer Scientific by 213.2% in the 2nd quarter. BlackRock Inc. now owns 4,559,074 shares of the company’s stock worth $114,204,000 after acquiring an additional 3,103,517 shares in the last quarter. Marshall Wace LLP lifted its stake in Danimer Scientific by 199.0% in the 2nd quarter. Marshall Wace LLP now owns 1,315,862 shares of the company’s stock worth $32,962,000 after acquiring an additional 875,763 shares in the last quarter. Finally, State Street Corp lifted its stake in Danimer Scientific by 3,186.5% in the 2nd quarter. State Street Corp now owns 1,268,587 shares of the company’s stock worth $31,778,000 after acquiring an additional 1,229,987 shares in the last quarter. 46.71% of the stock is owned by hedge funds and other institutional investors.

Danimer Scientific Company Profile

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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