Atomera (NASDAQ:ATOM) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Atomera Incorporated (NASDAQ:ATOM)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.27 and traded as low as $5.24. Atomera shares last traded at $5.62, with a volume of 624,157 shares traded.

Analyst Upgrades and Downgrades

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

Atomera Trading Down 1.2%

The stock has a market capitalization of $217.61 million, a PE ratio of -8.65 and a beta of 2.05. The firm’s fifty day moving average is $8.27 and its 200-day moving average is $5.73.

Atomera (NASDAQ:ATOM) last announced its earnings results 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 business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.07 million.

Insider Buying and Selling at Atomera

In related news, CFO Francis Laurencio sold 20,400 shares of the company’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 sale, the chief financial officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Atomera

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Atomera by 25.2% during the fourth quarter. AQR Capital Management LLC now owns 22,210 shares of the technology company’s stock worth $49,000 after buying an additional 4,475 shares in the last quarter. Barclays PLC increased its holdings in Atomera by 12.5% in the fourth quarter. Barclays PLC now owns 47,051 shares of the technology company’s stock valued at $104,000 after buying an additional 5,220 shares in the last quarter. Hollencrest Capital Management increased its holdings in Atomera by 1.2% in the fourth quarter. Hollencrest Capital Management now owns 606,546 shares of the technology company’s stock valued at $1,340,000 after buying an additional 7,179 shares in the last quarter. Avenir Corp lifted its position in shares of Atomera by 1.7% during the 4th quarter. Avenir Corp now owns 614,385 shares of the technology company’s stock valued at $1,358,000 after acquiring an additional 10,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Atomera by 17.1% during the 1st quarter. Bank of New York Mellon Corp now owns 70,629 shares of the technology company’s stock valued at $269,000 after acquiring an additional 10,296 shares during the period. Institutional investors and hedge funds 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.