Atomera (NASDAQ:ATOM) Trading Up 0.6% – Here’s What Happened

Atomera Incorporated (NASDAQ:ATOM)’s share price shot up 0.6% on Wednesday . The company traded as high as $6.94 and last traded at $6.82. 673,607 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 908,062 shares. The stock had previously closed at $6.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Atomera in a research report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Atomera Stock Up 0.6%

The firm has a fifty day moving average of $8.58 and a 200-day moving average of $5.56. The firm has a market cap of $264.07 million, a P/E ratio of -10.49 and a beta of 2.05.

Atomera (NASDAQ:ATOM) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.07 million.

Insider Buying and Selling at Atomera

In related news, CFO Francis Laurencio sold 20,400 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $9.44, for a total value of $192,576.00. Following the transaction, the chief financial officer directly owned 253,353 shares in the company, valued at $2,391,652.32. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atomera

Several institutional investors and hedge funds have recently made changes to their positions in ATOM. Vanguard Group Inc. grew its stake in Atomera by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,635,938 shares of the technology company’s stock valued at $7,231,000 after acquiring an additional 15,450 shares during the period. Geode Capital Management LLC raised its position in shares of Atomera by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 740,985 shares of the technology company’s stock worth $1,638,000 after purchasing an additional 17,658 shares during the period. Avenir Corp lifted its holdings in shares of Atomera by 1.7% during the 4th quarter. Avenir Corp now owns 614,385 shares of the technology company’s stock valued at $1,358,000 after purchasing an additional 10,000 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of Atomera by 1.2% during the 4th quarter. Hollencrest Capital Management now owns 606,546 shares of the technology company’s stock valued at $1,340,000 after purchasing an additional 7,179 shares in the last quarter. Finally, Quantum Private Wealth LLC grew its position in shares of Atomera by 13.6% in the 4th quarter. Quantum Private Wealth LLC now owns 598,847 shares of the technology company’s stock valued at $1,323,000 after purchasing an additional 71,739 shares during the period. Institutional investors and hedge funds own 30.79% of the company’s stock.

About Atomera

Atomera Inc is a materials engineering company that develops and licenses advanced thin film technologies for the semiconductor industry. Its flagship offering, Mears Silicon Technology (MST), is designed to enhance transistor performance, improve power efficiency and boost device yields. Atomera’s solutions are integrated into existing fabrication processes without major changes to equipment or materials flows, enabling foundries and integrated device manufacturers to adopt the technology with minimal disruption.

At the core of Atomera’s business model is the licensing and patent-licensing of MST.