Danimer Scientific Inc (NYSE: DNMR) Stock: Will It Keep Climbing Higher?

In the last trading session, 1.84 million shares of the Danimer Scientific Inc (NYSE:DNMR) were traded, and its beta was 1.60. Most recently the company’s share price was $0.85, and it changed around $0.05 or 5.84% from the last close, which brings the market valuation of the company to $96.93M. DNMR currently trades at a discount to its 52-week high of $3.70, offering almost -335.29% off that amount. The share price’s 52-week low was $0.60, which indicates that the current value has risen by an impressive 29.41% since then. We note from Danimer Scientific Inc’s average daily trading volume that its 3-month average coming to 930.72K.

Danimer Scientific Inc (NYSE:DNMR) trade information

Instantly DNMR has showed a green trend with a performance of 5.84% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -16.81% year-to-date, but still up 8.56% over the last five days. On the other hand, Danimer Scientific Inc (NYSE:DNMR) is -25.57% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $1.25, which translates to bulls needing to increase their stock price by 32.0% from its current value. Analyst projections state that DNMR is forecast to be at a low of $1.25 and a high of $1.25.

Danimer Scientific Inc (DNMR) estimates and forecasts

Danimer Scientific Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -48.58 percent over the past six months and at a 46.05% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 27.80% in revenue this quarter, and will report an increase of 39.50% in the next quarter. The year-over-year growth rate is expected to be 71.60%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $11.06 million in revenue for the current quarter. 3 analysts expect Danimer Scientific Inc to make $12.88 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $11.93 million and $13.9 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -7.30%. Forecasts for the next quarter put sales growth at -7.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -18.65%.