Atomera (NASDAQ:ATOM) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Atomera from “hold” to “sell,” while Weiss Ratings reaffirmed its “sell (e+)” rating; MarketBeat reports a consensus “sell” rating.
• Atomera reported a quarterly loss of $0.17 per share, missing the $0.13 consensus estimate, while revenue of $0.01 million also fell short of the $0.07 million forecast.
• The stock opened at $5.16, with a market capitalization of approximately $199.8 million. CFO Francis Laurencio sold 20,400 shares at an average price of $9.44, reducing his holdings by 7.45%.

Atomera (NASDAQ:ATOM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Atomera in a report on Friday, May 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

Atomera Price Performance

Shares of Atomera stock opened at $5.16 on Friday. The stock has a market cap of $199.80 million, a price-to-earnings ratio of -7.94 and a beta of 2.05. The firm's 50-day moving average is $7.61 and its 200 day moving average is $5.94. Atomera has a 1 year low of $1.89 and a 1 year high of $12.36.

Atomera (NASDAQ:ATOM - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.07 million.

Insider Activity

In related news, CFO Francis Laurencio sold 20,400 shares of the stock in a transaction 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 sale, the chief financial officer directly 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 filing with the SEC, which is available at the SEC website. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atomera

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in Atomera by 82.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,254 shares of the technology company's stock valued at $561,000 after acquiring an additional 63,305 shares during the period. Geode Capital Management LLC grew its stake in shares of Atomera by 98.3% in 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 during the period. JPMorgan Chase & Co. grew 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 worth $72,000 after acquiring an additional 13,829 shares during the period. Rhumbline Advisers purchased a new position in shares of Atomera during the second quarter valued at approximately $230,000. Finally, XTX Topco Ltd raised its holdings in shares of Atomera by 147.7% during the second quarter. XTX Topco Ltd now owns 25,473 shares of the technology company's stock valued at $128,000 after purchasing an additional 15,188 shares during the last quarter. Hedge funds and other institutional investors own 30.79% of the company's stock.

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.

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