Atomera (NASDAQ:ATOM) Shares Cross Below 50 Day Moving Average – What’s Next?

Atomera Incorporated (NASDAQ:ATOM)’s stock price passed 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Atomera in a research report on Wednesday, August 12th. Wall Street Zen cut Atomera from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Atomera Price 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 price of $5.91 and a 200-day moving average price 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). The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.10 million. Atomera had a negative net margin of 9,742.17% and a negative return on equity of 77.91%.

Insider Buying and Selling at Atomera

In other news, CFO Francis Laurencio sold 20,400 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.44, for a total transaction of $192,576.00. Following the completion of the sale, the chief financial officer owned 253,353 shares of the company’s stock, valued at approximately $2,391,652.32. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Atomera

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Atomera during the 2nd quarter valued at $26,047,000. Vanguard Group Inc. grew its holdings in Atomera by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,635,938 shares of the technology company’s stock worth $7,231,000 after acquiring an additional 15,450 shares during the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Atomera in the second quarter valued at about $90,000,000. Geode Capital Management LLC increased its position in shares of Atomera by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 740,985 shares of the technology company’s stock valued at $1,638,000 after acquiring an additional 17,658 shares during the period. Finally, Avenir Corp raised its stake in shares of Atomera by 1.7% during the fourth 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 last quarter. 30.79% of the stock is currently owned by institutional investors.

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.