Atomera (NASDAQ:ATOM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Atomera (NASDAQ:ATOM) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

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

Atomera Price Performance

Shares of ATOM opened at $5.48 on Friday. The company has a market capitalization of $212.19 million, a price-to-earnings ratio of -8.43 and a beta of 2.11. Atomera has a 52-week low of $1.89 and a 52-week high of $12.36. The stock has a 50 day moving average price of $7.07 and a 200 day moving average price of $6.07.

Atomera (NASDAQ:ATOM) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.10 million. Atomera had a negative return on equity of 77.91% and a negative net margin of 9,742.17%.

Insider Buying and Selling at Atomera

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

Hedge Funds Weigh In On Atomera

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Atomera in the second quarter valued at $26,047,000. Andar Capital Management HK Ltd purchased a new stake in shares of Atomera in the second quarter valued at about $90,000,000. Geode Capital Management LLC raised its holdings in shares of Atomera by 98.3% in the second quarter. Geode Capital Management LLC now owns 719,509 shares of the technology company’s stock valued at $3,627,000 after buying an additional 356,579 shares during the last quarter. Defender Capital LLC. acquired a new stake in shares of Atomera during the second quarter worth about $2,573,000. Finally, Marshall Wace LLP acquired a new stake in shares of Atomera during the fourth quarter worth about $396,000. 30.79% of the stock is owned by institutional investors and hedge funds.

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.