Andar Capital Management HK Ltd Buys Shares of 783,900 Atomera Incorporated $ATOM

Key Points

• Andar Capital Management HK Ltd. acquired 783,900 Atomera shares worth approximately $90 million, making up 0.2% of its portfolio and representing about 2.02% of Atomera’s outstanding stock.
• Several other institutional investors also increased or initiated positions, bringing institutional ownership of Atomera to 30.79%.
• Atomera reported a quarterly loss of $0.17 per share, missing analyst estimates, while analysts maintain a consensus “Sell” rating. Shares recently traded at $5.60, below their 50-day and 200-day moving averages.

Andar Capital Management HK Ltd bought a new position in Atomera Incorporated (NASDAQ:ATOM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 783,900 shares of the technology company's stock, valued at approximately $90,000,000. Atomera accounts for 0.2% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 8th largest holding. Andar Capital Management HK Ltd owned about 2.02% of Atomera at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Defender Capital LLC. bought a new position in Atomera during the second quarter worth about $2,573,000. Quantum Private Wealth LLC increased its holdings in shares of Atomera by 13.6% in the fourth quarter. Quantum Private Wealth LLC now owns 598,847 shares of the technology company's stock worth $1,323,000 after acquiring an additional 71,739 shares in the last quarter. Abel Hall LLC bought a new stake in shares of Atomera in the first quarter worth about $53,000. Aristides Capital LLC bought a new stake in shares of Atomera in the fourth quarter worth about $74,000. Finally, Jain Global LLC acquired a new stake in shares of Atomera during the fourth quarter worth about $69,000. 30.79% of the stock is owned by institutional investors.

Atomera Trading Up 3.3%

Shares of ATOM opened at $5.60 on Friday. The company's fifty day simple moving average is $6.71 and its 200 day simple moving average is $6.15. Atomera Incorporated has a 1-year low of $1.89 and a 1-year high of $12.36. The company has a market cap of $218.51 million, a price-to-earnings ratio of -8.62 and a beta of 2.11.

Atomera (NASDAQ:ATOM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). The firm had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.10 million. Atomera had a negative net margin of 9,742.17% and a negative return on equity of 77.91%.

Insiders Place Their Bets

In other Atomera news, CFO Francis Laurencio sold 20,400 shares of the business's 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 transaction, the chief financial officer owned 253,353 shares of the company's stock, valued at $2,391,652.32. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ATOM has been the subject of several research reports. Wall Street Zen raised shares of Atomera from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Atomera in a research report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell".

Atomera 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source