Danimer gets warning about low stock price

Danimer Scientific, which makes biodegradable polyhydroxyalkanoate (PHA) plastics, has received a warning notice from the New York Stock Exchange that it could be delisted because its stock is trading below the minimum market threshold of $1 per share. The bioplastics firm expanded its Winchester, Kentucky, plant in 2022 and was trading at highs last April of over $4 per share; its stock is now available for less than 70 cents. The company reported last November that its quarterly sales of PHA had increased by 58% year over year, but that figure was below expectations. Officials admitted that they underestimated the time required to get its plastics qualified for new applications. Danimer, which had sales of $10.9 million in its most recent fiscal quarter, has $379 million in long-term debt on its balance sheet.