Danimer Scientific Inc. [DNMR] Is Currently -3.07 below its 200 Period Moving Avg: What Does This Mean?


Danimer Scientific Inc. [NYSE: DNMR] slipped around -0.26 points on Wednesday, while shares priced at $8.20 at the close of the session, down -3.07%. The company report on December 16, 2021 that Danimer Scientific Prices Upsized $200 Million Convertible Senior Notes Offering.

Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today the pricing of its offering of $200,000,000 aggregate principal amount of 3.250% convertible senior notes due 2026 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $175,000,000 aggregate principal amount of notes. The issuance and sale of the notes are scheduled to settle on December 21, 2021, subject to customary closing conditions. Danimer also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $40,000,000 aggregate principal amount of notes.

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The notes will be senior, unsecured obligations of Danimer and will accrue interest at a rate of 3.250% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2022. The notes will mature on December 15, 2026, unless earlier repurchased, redeemed or converted. Before June 15, 2026, noteholders will have the right to convert their notes only upon the occurrence of certain events. From and after June 15, 2026, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Danimer will settle conversions by paying or delivering, as applicable, cash, shares of its Class A common stock, par value $0.0001 per share (the “common stock”), or a combination of cash and shares of its common stock, at Danimer’s election. The initial conversion rate is 92.7085 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $10.79 per share of common stock. The initial conversion price represents a premium of approximately 27.5% over the last reported sale price of $8.46 per share of Danimer’s common stock on December 16, 2021. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

Danimer Scientific Inc. stock is now -65.12% down from its year-to-date (YTD) trading value. DNMR Stock saw the intraday high of $8.4499 and lowest of $8.02 per share. The company’s 52-week high price is 66.30, which means current price is +2.24% above from all time high which was touched on 02/10/21.

Compared to the average trading volume of 2.69M shares, DNMR reached a trading volume of 2398830 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Danimer Scientific Inc. [DNMR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DNMR shares is $25.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DNMR stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Danimer Scientific Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on September 23, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on January 06, 2021, representing the official price target for Danimer Scientific Inc. stock.

The Average True Range (ATR) for Danimer Scientific Inc. is set at 0.89, with the Price to Sales ratio for DNMR stock in the period of the last 12 months amounting to 9.07. The Price to Book ratio for the last quarter was 1.52.

How has DNMR stock performed recently?

Danimer Scientific Inc. [DNMR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.96. With this latest performance, DNMR shares dropped by -41.97% in over the last four-week period, additionally sinking by -67.27% over the last 6 months – not to mention a drop of -66.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DNMR stock in for the last two-week period is set at 29.55, with the RSI for the last a single of trading hit 26.04, and the three-weeks RSI is set at 32.78 for Danimer Scientific Inc. [DNMR]. The present Moving Average for the last 50 days of trading for this stock 13.70, while it was recorded at 8.61 for the last single week of trading, and 20.34 for the last 200 days.

Danimer Scientific Inc. [DNMR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Danimer Scientific Inc. [DNMR] shares currently have an operating margin of -33.25 and a Gross Margin at +22.17. Danimer Scientific Inc.’s Net Margin is presently recorded at -18.70.

Return on Total Capital for DNMR is now -7.16, given the latest momentum, and Return on Invested Capital for the company is -4.30. Return on Equity for this stock declined to -4.97, with Return on Assets sitting at -3.24. When it comes to the capital structure of this company, Danimer Scientific Inc. [DNMR] has a Total Debt to Total Equity ratio set at 23.53. Additionally, DNMR Total Debt to Total Capital is recorded at 19.05, with Total Debt to Total Assets ending up at 15.34. Long-Term Debt to Equity for the company is recorded at 15.61, with the Long-Term Debt to Total Capital now at 12.63.

Reflecting on the efficiency of the workforce at the company, Danimer Scientific Inc. [DNMR] managed to generate an average of -$46,595 per employee. Receivables Turnover for the company is 11.73 with a Total Asset Turnover recorded at a value of 0.17.Danimer Scientific Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.60 and a Current Ratio set at 7.40.

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Insider trade positions for Danimer Scientific Inc. [DNMR]

There are presently around $424 million, or 49.50% of DNMR stock, in the hands of institutional investors. The top three institutional holders of DNMR stocks are: VANGUARD GROUP INC with ownership of 7,471,710, which is approximately 23.323% of the company’s market cap and around 9.00% of the total institutional ownership; INVESCO LTD., holding 6,866,156 shares of the stock with an approximate value of $58.09 million in DNMR stocks shares; and BLACKROCK INC., currently with $37.71 million in DNMR stock with ownership of nearly -2.235% of the company’s market capitalization.

96 institutional holders increased their position in Danimer Scientific Inc. [NYSE:DNMR] by around 12,775,701 shares. Additionally, 108 investors decreased positions by around 7,620,045 shares, while 38 investors held positions by with 29,748,118 shares. The mentioned changes placed institutional holdings at 50,143,864 shares, according to the latest SEC report filing. DNMR stock had 26 new institutional investments in for a total of 2,856,596 shares, while 52 institutional investors sold positions of 4,298,981 shares during the same period.