The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Danimer Scientific Inc. shares valued at $35,826 were sold by Tuten Scott on Sep 19. At $3.58 per share, Tuten Scott sold 10,000 shares. The insider’s holdings dropped to 454,136 shares worth approximately $1.48 million following the completion of this transaction.
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Also, Pratt Stuart W sold 100,000 shares, netting a total of over 477,200 in proceeds. Following the sale of shares at $4.77 each, the insider now holds 1,419,238 shares.
Before that, Pratt Stuart W had sold 75,327 shares from its account. In a trade valued at $395,693, the Director traded Danimer Scientific Inc. shares for $5.25 each. Upon closing the transaction, the insider’s holdings decreased to 75,327 shares, worth approximately $4.95 million.
As published in their initiating research note from Cowen on September 23, 2021, Danimer Scientific Inc. [DNMR] has been an Outperform and the price target has been revised to $21. This represents a 84.48% premium over Thursday’s closing price. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in early January.
Analyzing DNMR’s Price Performance
On Thursday, Danimer Scientific Inc. [NYSE: DNMR] plunged -7.65% to $3.26. The stock’s lowest price that day was $3.22, but it reached a high of $3.57 in the same session. During the last five days, there has been a drop of approximately -16.62%. Over the course of the year, Danimer Scientific Inc. shares have dropped approximately -61.74%. Shares of the company reached a 52-week high of $9.35 on 01/03/22 and a 52-week low of $3.09 on 02/24/22. A 50-day SMA is recorded $4.53, while a 200-day SMA reached $5.20. Nevertheless, trading volume fell to 1.4 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for Danimer Scientific Inc. (DNMR)
According to the 24-hour chart, there is a support level at 3.13, which, if violated, would cause prices to drop to 3.00. In the upper region, resistance lies at 3.48. The next price resistance is at 3.70. RSI (Relative Strength Index) is 31.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.49, which suggests the price will decrease in the coming days. Percent R is at 96.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Danimer Scientific Inc. subject to short interest?
Stocks of Danimer Scientific Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.11 million shares to 20.24 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 21.35 million shares. A decline of -5.48% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.91 of the overall float, the days-to-cover ratio (short ratio) decline to 9.91.
Which companies own the most shares of Danimer Scientific Inc. (DNMR)?
According to BlackRock Fund Advisors filings, the company currently owns 8,209,494 shares, which is about 8.12% of the total DNMR shares outstanding. The investor’s shares have appreciated by 1,980,730 from its previous 13-F filing of 6228764.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $19,662,022. Leucadia Asset Management LLC reduced a -37.74% interest valued at $13.5 million while SSgA Funds Management, Inc. purchased a 98,375 stake. A total of -324,000 shares of Danimer Scientific Inc. were bought by Invesco Asset Management Ltd. during the quarter, and 0 by Integrated Advisors Network LLC. In its current portfolio, Invesco Advisers, Inc. holds 1,539,982 shares valued at $6.85 million.
In terms of Danimer Scientific Inc. share price expectations, FactSet research, analysts set an average price target of $8.50 in the next 12 months, up nearly 112.46% from the previous closing price of $3.53. Analysts anticipate Danimer Scientific Inc. stock to reach $12.00 by 2022, with the lowest price target being $6.00. In spite of this, 3 analysts ranked Danimer Scientific Inc. stock as a Buy at the end of 2022.