BlackRock Inc. Takes $26.05 Million Position in Atomera Incorporated $ATOM

Key Points

• BlackRock acquired a new 7.72% stake in Atomera, buying 2.99 million shares valued at approximately $26.05 million during the second quarter.
• Other institutional investors also added positions, bringing total institutional ownership to 30.79%; meanwhile, Atomera’s CFO sold 20,400 shares, and insiders retain an 8.10% stake.
• Atomera reported a quarterly loss of $0.17 per share, missing estimates, while shares opened at $4.00 and analysts maintained an overall “Sell” rating.

BlackRock Inc. bought a new stake in shares of Atomera Incorporated (NASDAQ:ATOM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,990,446 shares of the technology company's stock, valued at approximately $26,047,000. BlackRock Inc. owned approximately 7.72% of Atomera at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ATOM. Defender Capital LLC. bought a new stake in shares of Atomera in the 2nd quarter valued at $2,573,000. Andar Capital Management HK Ltd bought a new position in Atomera during the second quarter worth $90,000,000. Quantum Private Wealth LLC boosted its stake in Atomera by 13.6% during 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. Renaissance Technologies LLC acquired a new stake in Atomera in the first quarter worth $621,000. Finally, Bank of New York Mellon Corp acquired a new stake in Atomera in the second quarter worth $820,000. 30.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Atomera news, CFO Francis Laurencio sold 20,400 shares of Atomera 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 completion of the transaction, the chief financial officer owned 253,353 shares in the company, valued at approximately $2,391,652.32. The trade was a 7.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company's stock.

Atomera Trading Up 1.5%

Shares of ATOM stock opened at $4.00 on Thursday. The firm has a fifty day simple moving average of $5.69 and a two-hundred day simple moving average of $6.35. Atomera Incorporated has a 12 month low of $1.89 and a 12 month high of $12.36. The firm has a market capitalization of $156.08 million, a PE ratio of -6.15 and a beta of 2.02.

Atomera (NASDAQ:ATOM - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. 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 $0.16 million during the quarter, compared to the consensus estimate of $0.10 million. Atomera had a negative net margin of 9,742.17% and a negative return on equity of 77.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Atomera from a "hold" rating to a "sell" rating in a report on Monday, August 17th. Weiss Ratings raised Atomera from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

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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