Atomera (NASDAQ:ATOM) Releases Earnings Results, Meets Expectations

Atomera (NASDAQ:ATOM) issued its quarterly earnings results on Thursday. The technology company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14), Zacks reports. The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.10 million.

Atomera Stock Down 2.8%

NASDAQ:ATOM traded down $0.07 during trading hours on Thursday, reaching $2.39. 444,825 shares of the stock were exchanged, compared to its average volume of 573,219. The stock has a market capitalization of $75.72 million, a P/E ratio of -3.57 and a beta of 1.06. The firm has a 50 day simple moving average of $2.45 and a 200-day simple moving average of $3.14. Atomera has a 52 week low of $1.89 and a 52 week high of $7.73.

Hedge Funds Weigh In On Atomera

A number of hedge funds have recently added to or reduced their stakes in ATOM. The Manufacturers Life Insurance Company acquired a new stake in shares of Atomera in the second quarter valued at approximately $53,000. Alliancebernstein L.P. bought a new position in Atomera in the 3rd quarter worth approximately $61,000. JPMorgan Chase & Co. increased its position in Atomera by 3,414.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,234 shares of the technology company’s stock valued at $72,000 after acquiring an additional 13,829 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Atomera by 461.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,891 shares of the technology company’s stock valued at $90,000 after acquiring an additional 14,704 shares during the period. Finally, XTX Topco Ltd raised its stake in Atomera by 147.7% during the 2nd quarter. XTX Topco Ltd now owns 25,473 shares of the technology company’s stock valued at $128,000 after acquiring an additional 15,188 shares in the last quarter. 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.