Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Danimer Scientific Inc. shares valued at $27,390 were sold by Tuten Scott on Jun 20. At $2.74 per share, Tuten Scott sold 10,000 shares. The insider’s holdings dropped to 346,478 shares worth approximately $0.7 million following the completion of this transaction.
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Also, Tuten Scott sold 10,000 shares, netting a total of over 33,810 in proceeds. Following the sale of shares at $3.38 each, the insider now holds 356,478 shares.
Before that, Tuten Scott had sold 10,000 shares from its account. In a trade valued at $42,619, the Chief Marketing Officer traded Danimer Scientific Inc. shares for $4.26 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $0.74 million.
As published in their initiating research note from Piper Sandler on October 12, 2022, Danimer Scientific Inc. [DNMR] has been an Overweight and the price target has been revised to $4.50. This represents a 54.89% premium over Thursday’s closing price.
Analyzing DNMR Stock Performance
On Thursday, Danimer Scientific Inc. [NYSE: DNMR] plunged -4.25% to $2.03. The stock’s lowest price that day was $2.01, but it reached a high of $2.20 in the same session. During the last five days, there has been a surge of approximately 5.18%. Over the course of the year, Danimer Scientific Inc. shares have jumped approximately 13.41%. Shares of the company reached a 52-week high of $4.59 on 04/04/23 and a 52-week low of $1.61 on 01/06/23. A 50-day SMA is recorded $2.52, while a 200-day SMA reached $2.60. Nevertheless, trading volume fell to 0.81 million shares from 0.91 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 1.96, which, if violated, would cause prices to drop to 1.89. In the upper region, resistance lies at 2.15. The next price resistance is at 2.27. RSI (Relative Strength Index) is 36.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 82.67%, indicating bearish price movement. Stochastics %K at holding 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 30, 2023 dropping by -0.13 million shares to 15.48 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 15.61 million shares. A decline of -0.84% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 18 of the overall float, the days-to-cover ratio (short ratio) decline to 18.
Which companies own the most shares of Danimer Scientific Inc. (DNMR)?
According to BlackRock Fund Advisors filings, the company currently owns 5,442,152 shares, which is about 5.34% of the total DNMR shares outstanding. The investor’s shares have appreciated by 115,503 from its previous 13-F filing of 5326649.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $13,851,465. In its current portfolio, Geode Capital Management LLC holds 1,735,065 shares valued at $4.88 million.