Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Danimer Scientific Inc shares valued at $46,915 were purchased by HENDRIX RICHARD J on Nov 28 ’23. At $0.94 per share, HENDRIX RICHARD J acquired 50,000 shares. The insider’s holdings grew to 50,000 shares worth approximately $47000.0 following the completion of this transaction.
Also, HENDRIX RICHARD J purchased 50,000 shares, netting a total of over 46,480 in proceeds. Following the buying of shares at $0.93 each, the insider now holds 391,324 shares.
Before that, Tuten Scott had sold 10,000 shares from its account. In a trade valued at $27,390, the Chief Marketing Officer traded Danimer Scientific Inc shares for $2.74 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $0.33 million.
As published in a research note from Piper Sandler on April 09, 2024, Danimer Scientific Inc [DNMR] has been rated down from an Overweight to a Neutral and the price target has been revised to $1.25 from $3.50. Analysts at Piper Sandler started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid October. As of September 23, 2021, Cowen has initiated its “an Outperform” rating for DNMR. Earlier on January 06, 2021, Jefferies initiated its rating. Their recommendation was “a Buy” for DNMR stock.
Analyzing DNMR Stock Performance
During the last five days, there has been a drop of approximately -11.35%. Over the course of the year, Danimer Scientific Inc shares have dropped approximately -7.87%. Shares of the company reached a 52-week high of $1.8400 on 03/07/24 and a 52-week low of $0.6000 on 02/06/24. A 50-day SMA is recorded $1.1187, while a 200-day SMA reached $1.5593. Nevertheless, trading volume fell to 1.38 million shares from 1.03 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 0.8965, which, if violated, would cause prices to drop to 0.8534. In the upper region, resistance lies at 1.0164. The next price resistance is at 1.0932. RSI (Relative Strength Index) is 37.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0634, which suggests the price will decrease in the coming days. Percent R is at 98.15%, 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 Mar 15, 2024 dropping by -1.48 million shares to 21.3 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 22.78 million shares. A decline of -6.95% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 22.37 of the overall float, the days-to-cover ratio (short ratio) decline to 22.37.
