In the last trading session, 1.32 million Danimer Scientific Inc (NYSE:DNMR) shares changed hands as the company’s beta touched 1.40. With the company’s per share price at $1.29 changed hands at -$0.14 or -9.79% during last session, the market valuation stood at $131.62M. DNMR’s last price was a discount, traded about -255.81% off its 52-week high of $4.59. The share price had its 52-week low at $1.32, which suggests the last value was -2.33% down since then. When we look at Danimer Scientific Inc’s average trading volume, we note the 10-day average is 1.01 million shares, with the 3-month average coming to 782.81K.
Analysts gave the Danimer Scientific Inc (DNMR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended DNMR as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Danimer Scientific Inc’s EPS for the current quarter is expected to be -$0.35.
Danimer Scientific Inc (NYSE:DNMR) trade information
Instantly DNMR was in red as seen at the end of in last trading. With action -12.24%, the performance over the past five days has been red. The drop to weekly highs of 1.6600 on Monday, 11/20/23 subtracted -9.79% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.93%, with the 5-day performance at -12.24% in the red. However, in the 30-day time frame, Danimer Scientific Inc (NYSE:DNMR) is -21.82% down. Looking at the short shares, we see there were 14.16 million shares sold at short interest cover period of 20.14 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.00, meaning bulls need an upside of 57.0% from its current market value. According to analyst projections, DNMR’s forecast low is $2.00 with $3.75 as the target high. To hit the forecast high, the stock’s price needs a -190.7% plunge from its current level, while the stock would need to soar -55.04% for it to hit the projected low.
Danimer Scientific Inc (DNMR) estimates and forecasts
Data shows that the Danimer Scientific Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -61.38% over the past 6 months, a -28.95% in annual growth rate that is considerably lower than the industry average of -2.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Danimer Scientific Inc will fall -25.00%, while the growth in revenue is estimated to hit 2.80% for the next quarter. Year-over-year growth is forecast to reach 10.00% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $16.97 million. 2 analysts are of the opinion that Danimer Scientific Inc’s revenue for the quarter ending Mar 2024 will be $20.94 million. The company’s revenue for the corresponding quarters a year ago was $15.32 million and $11.93 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.70%. The estimates for the next quarter sales put growth at 75.60%.
The 2023 estimates are for Danimer Scientific Inc earnings to decrease by -14.03%.
Danimer Scientific Inc is expected to release its next quarterly earnings report on November 14.
Danimer Scientific Inc (NYSE:DNMR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.09% of Danimer Scientific Inc shares while 39.45% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.92%. There are 39.45% institutions holding the Danimer Scientific Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.88% of the shares, roughly 6.0 million DNMR shares worth $14.27 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.90% or 5.0 million shares worth $11.9 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 2.92 million shares estimated at $6.95 million under it, the former controlled 2.86% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.00% of the shares, roughly 2.04 million shares worth around $3.97 million.