Atomera (NASDAQ:ATOM) Stock Price Up 0.9% – Here’s What Happened

Atomera Incorporated (NASDAQ:ATOM) shares shot up 0.9% on Wednesday . The company traded as high as $2.27 and last traded at $2.21. 441,253 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 434,071 shares. The stock had previously closed at $2.19.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Atomera in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Atomera Stock Performance

The stock has a market cap of $70.01 million, a P/E ratio of -3.30 and a beta of 0.89. The company’s 50 day moving average price is $2.46 and its 200-day moving average price is $3.66.

Atomera (NASDAQ:ATOM) last released its quarterly earnings results on Tuesday, October 28th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.10 million.

Hedge Funds Weigh In On Atomera

Institutional investors have recently modified their holdings of the business. Baird Financial Group Inc. lifted its holdings in Atomera by 11.6% during the first quarter. Baird Financial Group Inc. now owns 1,348,062 shares of the technology company’s stock worth $5,392,000 after acquiring an additional 139,776 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Atomera by 219.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 33,416 shares of the technology company’s stock valued at $177,000 after purchasing an additional 22,966 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Atomera during the 1st quarter worth $45,000. Quantum Private Wealth LLC boosted its holdings in shares of Atomera by 7.1% in the 2nd quarter. Quantum Private Wealth LLC now owns 488,308 shares of the technology company’s stock worth $2,461,000 after buying an additional 32,211 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in Atomera during the first quarter valued at about $40,000. 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.