Atomera (NASDAQ:ATOM) Share Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Atomera shares fell below their 50-day moving average, trading as low as $3.76 versus a 50-day average of $5.06; the stock last traded at $3.84.
• Analyst sentiment is bearish: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings maintained a sell-level assessment, and MarketBeat reports an average rating of “Sell.”
• Atomera reported a quarterly loss of $0.17 per share, missing estimates by $0.04, while posting $0.16 million in revenue; the company also has sharply negative profitability metrics, including a negative net margin and return on equity.

Shares of Atomera Incorporated (NASDAQ:ATOM - Get Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.06 and traded as low as $3.76. Atomera shares last traded at $3.84, with a volume of 598,775 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen cut Atomera from a "hold" rating to a "sell" rating in a research note on Monday, August 17th. Weiss Ratings raised Atomera from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 31st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Atomera currently has an average rating of "Sell".

Atomera Stock Performance

The stock's 50-day simple moving average is $5.06 and its 200-day simple moving average is $6.25. The firm has a market capitalization of $149.84 million, a PE ratio of -5.91 and a beta of 2.02.

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

Hedge Funds Weigh In On Atomera

A number of institutional investors and hedge funds have recently made changes to their positions in ATOM. Andar Capital Management HK Ltd purchased a new stake in shares of Atomera in the 2nd quarter worth approximately $90,000,000. BlackRock Inc. purchased a new stake in shares of Atomera in the second quarter worth $26,047,000. Baird Financial Group Inc. grew its stake in shares of Atomera by 4.9% in the second quarter. Baird Financial Group Inc. now owns 1,340,888 shares of the technology company's stock worth $11,679,000 after acquiring an additional 63,208 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Atomera during the second quarter valued at $3,068,000. Finally, Defender Capital LLC. bought a new position in shares of Atomera during the second quarter valued at $2,573,000. Institutional investors own 30.79% of the company's stock.

Atomera Company Profile

Atomera Incorporated is a semiconductor materials and technology company that develops and licenses process technologies designed to improve the performance, power efficiency and scalability of semiconductor devices. Its primary technology is Mears Silicon Technology (MST), a proprietary materials engineering approach that incorporates ultra-thin layers into silicon transistor structures.

MST is intended to enhance transistor characteristics such as carrier mobility and leakage control, potentially enabling semiconductor manufacturers to achieve improved performance or lower power consumption without requiring a complete redesign of their manufacturing processes.

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