Atomera (NASDAQ:ATOM) Trading Up 0.6% – Time to Buy?

Shares of Atomera Incorporated (NASDAQ:ATOM) shot up 0.6% on Wednesday . The stock traded as high as $6.94 and last traded at $6.82. Approximately 673,607 shares traded hands during trading, a decline of 26% from the average session volume of 908,062 shares. The stock had previously closed at $6.78.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Atomera in a research note on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Atomera currently has an average rating of “Sell”.

Atomera Stock Down 2.9%

The firm has a 50-day moving average price of $8.57 and a 200 day moving average price of $5.59. The firm has a market capitalization of $256.71 million, a PE ratio of -10.20 and a beta of 2.05.

Atomera (NASDAQ:ATOM) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.07 million.

Insider Activity

In other news, CFO Francis Laurencio sold 20,400 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Atomera

Several large investors have recently added to or reduced their stakes in ATOM. The Manufacturers Life Insurance Company purchased a new position in Atomera in the 2nd quarter valued at approximately $53,000. HRT Financial LP acquired a new position in shares of Atomera in the fourth quarter worth $29,000. Alliancebernstein L.P. purchased a new stake in shares of Atomera during the third quarter worth $61,000. Abel Hall LLC purchased a new stake in shares of Atomera during the first quarter worth $53,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Atomera by 3,414.6% in the second quarter. JPMorgan Chase & Co. now owns 14,234 shares of the technology company’s stock valued at $72,000 after acquiring an additional 13,829 shares in the last quarter. 30.79% of the stock is owned by hedge funds and other 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.