Atomera (NASDAQ:ATOM) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Atomera (NASDAQ:ATOM) from a hold rating to a sell rating in a research report report published on Monday morning.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Atomera in a report on Wednesday, August 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Atomera Price Performance

Shares of ATOM stock opened at $5.42 on Monday. The stock has a market cap of $211.49 million, a PE ratio of -8.34 and a beta of 2.11. The stock has a 50-day moving average of $6.65 and a 200-day moving average of $6.19. Atomera has a one year low of $1.89 and a one year high of $12.36.

Atomera (NASDAQ:ATOM) last released its quarterly earnings data 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 firm had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.10 million. Atomera had a negative return on equity of 77.91% and a negative net margin of 9,742.17%.

Insider Activity at Atomera

In other news, CFO Francis Laurencio sold 20,400 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.44, for a total transaction of $192,576.00. Following the sale, the chief financial officer owned 253,353 shares of the company’s stock, valued at $2,391,652.32. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atomera

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Atomera during the 2nd quarter worth approximately $26,047,000. Andar Capital Management HK Ltd acquired a new position in shares of Atomera in the second quarter valued at approximately $90,000,000. Geode Capital Management LLC increased its position in shares of Atomera by 98.3% during the second quarter. Geode Capital Management LLC now owns 719,509 shares of the technology company’s stock worth $3,627,000 after acquiring an additional 356,579 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Atomera during the second quarter worth $3,068,000. Finally, Defender Capital LLC. bought a new stake in Atomera in the 2nd quarter valued at $2,573,000. 30.79% of the stock is currently owned by institutional investors and hedge funds.

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.