Atomera (NASDAQ:ATOM) Trading 0.9% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Atomera in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Atomera Stock Performance

The stock’s 50 day moving average price is $2.48 and its 200-day moving average price is $3.67. The company has a market cap of $70.01 million, a PE ratio of -3.30 and a beta of 1.03.

Atomera (NASDAQ:ATOM) last posted its quarterly earnings results on Tuesday, October 28th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.03). Atomera had a negative return on equity of 92.04% and a negative net margin of 15,555.37%.The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.10 million.

Hedge Funds Weigh In On Atomera

A number of large investors have recently bought and sold shares of ATOM. Vanguard Group Inc. boosted its stake in shares of Atomera by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,635,938 shares of the technology company’s stock valued at $7,231,000 after purchasing an additional 15,450 shares during the period. Baird Financial Group Inc. raised its holdings in Atomera by 11.6% during the 1st quarter. Baird Financial Group Inc. now owns 1,348,062 shares of the technology company’s stock valued at $5,392,000 after buying an additional 139,776 shares during the last quarter. Geode Capital Management LLC boosted its position in Atomera by 98.3% during the 2nd quarter. Geode Capital Management LLC now owns 719,509 shares of the technology company’s stock valued at $3,627,000 after buying an additional 356,579 shares during the period. Avenir Corp grew its holdings in Atomera by 8.4% in the 2nd quarter. Avenir Corp now owns 574,766 shares of the technology company’s stock worth $2,897,000 after acquiring an additional 44,466 shares during the last quarter. Finally, Quantum Private Wealth LLC increased its position in shares of Atomera by 7.9% in the third quarter. Quantum Private Wealth LLC now owns 527,108 shares of the technology company’s stock valued at $2,330,000 after acquiring an additional 38,800 shares during the period. 30.79% of the stock is owned by hedge funds and other 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.