Atomera (NASDAQ:ATOM) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Atomera (NASDAQ:ATOM) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Atomera from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has an average rating of “Sell”.

Atomera Stock Up 5.6%

NASDAQ:ATOM opened at $3.18 on Friday. The company has a 50-day moving average price of $3.76 and a 200-day moving average price of $5.43. Atomera has a 12 month low of $1.89 and a 12 month high of $12.36.

Atomera (NASDAQ:ATOM) last announced its quarterly earnings results on Thursday, October 29th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). Atomera had a negative net margin of 9,742.17% and a negative return on equity of 70.93%.

Institutional Investors Weigh In On Atomera

A number of hedge funds and other institutional investors have recently bought and sold shares of ATOM. Andar Capital Management HK Ltd purchased a new position in shares of Atomera during the second quarter valued at approximately $90,000,000. BlackRock Inc. purchased a new stake in shares of Atomera in the 2nd quarter worth approximately $26,047,000. Baird Financial Group Inc. grew its stake in shares of Atomera by 4.9% in the 2nd quarter. Baird Financial Group Inc. now owns 1,340,888 shares of the technology company’s stock worth $11,679,000 after buying an additional 63,208 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Atomera during the 2nd quarter valued at approximately $3,068,000. Finally, Defender Capital LLC. increased its position in Atomera by 101.2% during the 3rd quarter. Defender Capital LLC. now owns 594,450 shares of the technology company’s stock valued at $2,592,000 after buying an additional 299,000 shares in the last quarter. Hedge funds and other institutional investors own 30.79% of the company’s stock.

About Atomera

Atomera Incorporated is a semiconductor materials and technology company that develops solutions intended to improve the performance and energy efficiency of integrated circuits. Its core technology, Mears Silicon Technology (MST), is a proprietary semiconductor-materials innovation designed to enhance the characteristics of silicon-based transistors.

MST is engineered as a thin layer within the semiconductor manufacturing process. Atomera states that the technology can help chip manufacturers improve transistor performance, reduce power consumption, and potentially extend the capabilities of existing process technologies without requiring a complete redesign of the underlying manufacturing platform.

The company primarily operates through a licensing and technology-transfer model, working with semiconductor manufacturers and other industry participants to evaluate and integrate MST into their processes and products.