Danimer Scientific Stock Set to Split on Friday, May 10th (NYSE:DNMR)

Shares of Danimer Scientific, Inc. (NYSE:DNMR) are going to split on Friday, May 10th. The 4-3 split was announced on Friday, May 10th. The newly minted shares will be payable to shareholders after the market closes on Friday, May 10th.

Danimer Scientific Trading Up 4.3 %

Shares of Danimer Scientific stock opened at $0.84 on Wednesday. The company has a current ratio of 6.87, a quick ratio of 5.26 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $1.09 and a 200-day simple moving average of $1.08. The stock has a market cap of $95.76 million, a price-to-earnings ratio of -0.55 and a beta of 1.62. Danimer Scientific has a 12-month low of $0.60 and a 12-month high of $3.56.

Danimer Scientific (NYSE:DNMR) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.39) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.39). The firm had revenue of $10.95 million during the quarter, compared to analysts’ expectations of $10.90 million. Danimer Scientific had a negative net margin of 333.03% and a negative return on equity of 49.01%. On average, equities analysts forecast that Danimer Scientific will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen dropped their price target on Danimer Scientific from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Piper Sandler reissued a “neutral” rating and issued a $1.25 price objective (down from $3.50) on shares of Danimer Scientific in a report on Tuesday, April 9th.

Institutional Investors Weigh In On Danimer Scientific

Several hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its stake in Danimer Scientific by 10.1% in the 3rd quarter. Raymond James & Associates now owns 76,875 shares of the company’s stock valued at $159,000 after buying an additional 7,040 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Danimer Scientific in the third quarter valued at about $27,000. SG Americas Securities LLC purchased a new stake in shares of Danimer Scientific in the fourth quarter valued at about $41,000. Brandywine Global Investment Management LLC increased its stake in shares of Danimer Scientific by 100.6% during the third quarter. Brandywine Global Investment Management LLC now owns 92,880 shares of the company’s stock worth $192,000 after acquiring an additional 46,580 shares during the period. Finally, Levin Capital Strategies L.P. raised its holdings in Danimer Scientific by 423.3% during the fourth quarter. Levin Capital Strategies L.P. now owns 78,500 shares of the company’s stock worth $80,000 after purchasing an additional 63,500 shares in the last quarter. Institutional investors and hedge funds own 33.84% of the company’s stock.

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.