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

Atomera Incorporated (NASDAQ:ATOM) shares shot up 0.6% on Wednesday . The company traded as high as $6.94 and last traded at $6.82. Approximately 673,607 shares were traded 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.

Analysts Set New Price Targets

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

Atomera Trading Up 0.6%

The stock has a market cap of $264.07 million, a price-to-earnings ratio of -10.49 and a beta of 2.05. The company has a 50 day simple moving average of $8.58 and a 200-day simple moving average of $5.56.

Atomera (NASDAQ:ATOM) last posted 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 firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.07 million.

Insider Buying and Selling

In other Atomera news, CFO Francis Laurencio sold 20,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.44, for a total transaction of $192,576.00. Following the completion of the transaction, the chief financial officer owned 253,353 shares of the company’s stock, valued at $2,391,652.32. This represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.10% of the company’s stock.

Institutional Trading of Atomera

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

Atomera Company Profile

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.