Atomera (NASDAQ:ATOM) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research lowered shares of Atomera (NASDAQ:ATOM) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Atomera Incorporated is involved in the business of developing, commercializing and licensing proprietary processes and technologies for the semiconductor industry. It developed Mears Silicon Technology (TM) for semiconductor transistors. Atomera Incorporated is headquartered in Los Gatos, California. “

Separately, ValuEngine raised shares of Atomera from a hold rating to a buy rating in a research note on Friday, July 26th.

Shares of NASDAQ ATOM opened at $3.66 on Tuesday. The company’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $4.02. Atomera has a 52-week low of $2.33 and a 52-week high of $6.45.

Atomera (NASDAQ:ATOM) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.03). The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.13 million. Research analysts predict that Atomera will post -0.87 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new position in shares of Atomera in the second quarter worth about $7,204,000. Weybosset Research & Management LLC raised its stake in Atomera by 38.3% during the second quarter. Weybosset Research & Management LLC now owns 26,420 shares of the technology company’s stock worth $133,000 after purchasing an additional 7,320 shares during the period. BlackRock Inc. raised its stake in Atomera by 93.8% during the second quarter. BlackRock Inc. now owns 68,155 shares of the technology company’s stock worth $343,000 after purchasing an additional 32,986 shares during the period. Sargent Investment Group LLC raised its stake in Atomera by 13.3% during the second quarter. Sargent Investment Group LLC now owns 71,855 shares of the technology company’s stock worth $361,000 after purchasing an additional 8,420 shares during the period. Finally, Avenir Corp raised its stake in Atomera by 7.6% during the second quarter. Avenir Corp now owns 156,506 shares of the technology company’s stock worth $787,000 after purchasing an additional 11,116 shares during the period. 20.36% of the stock is currently owned by hedge funds and other institutional investors.

About Atomera

Atomera Incorporated engages in developing, commercializing, and licensing proprietary materials, processes, and technologies for the semiconductor industry primarily in Europe and the Asia Pacific. The company's lead technology is Mears Silicon Technology, a thin film of reengineered silicon that can be applied as a transistor channel enhancement to CMOS-type transistors.

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