Atomera (NASDAQ:ATOM) Shares Pass Below 50 Day Moving Average – Should You Sell?

Shares of Atomera Incorporated (NASDAQ:ATOM) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.91 and traded as low as $4.19. Atomera shares last traded at $4.20, with a volume of 403,517 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atomera in a research note on Wednesday, August 12th. Wall Street Zen downgraded Atomera from a “hold” rating to a “sell” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Atomera Stock Performance

The stock has a market capitalization of $163.88 million, a P/E ratio of -6.46 and a beta of 2.11. The stock has a 50 day moving average of $5.91 and a 200 day moving average of $6.29.

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

Insiders Place Their Bets

In other Atomera news, CFO Francis Laurencio sold 20,400 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were 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 directly owned 253,353 shares of the company’s stock, valued at $2,391,652.32. The trade was a 7.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atomera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new stake in Atomera in the 2nd quarter valued at approximately $32,000. Legal & General Group Plc bought a new stake in shares of Atomera during the second quarter valued at about $32,000. SCS Capital Management LLC acquired a new stake in Atomera in the second quarter worth about $87,000. The Manufacturers Life Insurance Company bought a new position in Atomera in the 2nd quarter valued at about $89,000. Finally, State of Wyoming acquired a new position in Atomera during the 2nd quarter valued at about $99,000. 30.79% of the stock is owned by institutional investors.

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.