Danimer Scientific Inc. (NYSE: DNMR) stock jumped 5.71% on Friday to $2.22 against a previous-day closing price of $2.10. With 2.86 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.33 million shares. During the session, the Specialty Chemicals company that operates in wider Basic Materials sector, reached to the highest price of $2.3000 whereas the lowest price it dropped to was $2.0550. The 52-week range on DNMR shows that it touched its highest point at $6.78 and its lowest point at $1.57 during that stretch. It currently has a 1-year price target of $6.12.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DNMR was up-trending over the past week, with a rise of 5.21%, but this was up by 34.55% over a month. Three-month performance dropped to -2.63% while six-month performance fell -56.21%. The stock lost -58.89% in the past year, while it has gained 24.02% so far this year. A look at the trailing 12-month EPS for DNMR yields -1.62 with Next year EPS estimates of -0.92. For the next quarter, that number is -0.29. This implies an EPS growth rate of -516.60% for this year and 31.30% for next year.
Float and Shares Shorts:
At present, 101.39 million DNMR shares are outstanding with a float of 90.45 million shares on hand for trading. On Oct 13, 2022, short shares totaled 19.66 million, which was 19.43% higher than short shares on Sep 14, 2022. In addition to Mr. Stephen E. Croskrey as the firm’s CEO & Chairman, Mr. Michael Smith serves as its Chief Operating Officer.
Through their ownership of 45.48% of DNMR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 29.01% of DNMR, in contrast to 19.21% held by mutual funds. Shares owned by individuals account for 15.52%. As the largest shareholder in DNMR with 7.70% of the stake, BlackRock Fund Advisors holds 7,809,907 shares worth 7,809,907. A second-largest stockholder of DNMR, Leucadia Asset Management LLC, holds 5,354,876 shares, controlling over 5.28% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in DNMR, holding 4,831,925 shares or 4.77% stake. With a 2.88% stake in DNMR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,920,239 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.98% of DNMR stock, is the second-largest Mutual Fund holder. It holds 2,002,737 shares valued at 3.58 million. Invesco Funds – Global Consumer T holds 1.85% of the stake in DNMR, owning 1,872,900 shares worth 3.35 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DNMR since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DNMR analysts setting a high price target of $12.00 and a low target of $4.00, the average target price over the next 12 months is $6.13. Based on these targets, DNMR could surge 440.54% to reach the target high and rise by 80.18% to reach the target low. Reaching the average price target will result in a growth of 176.13% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DNMR will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$0.56 being high and -$1.77 being low. For DNMR, this leads to a yearly average estimate of -$1.15. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Danimer Scientific Inc. surprised analysts by -$0.73 when it reported -$0.94 EPS against a consensus estimate of -$0.21. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.12 and the low estimate is -$0.28. The average estimate for the next quarter is thus -$0.20.
Summary of Insider Activity:
Insiders traded DNMR stock several times over the past three months with 0 Buys and 5 Sells. In these transactions, 0 shares were bought while 86,210 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 40,000 while 361,537 shares were sold.