Atomera (NASDAQ:ATOM) Share Price Passes Below 50-Day Moving Average of $2.92

Shares of Atomera Incorporated (NASDAQ:ATOM) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.92 and traded as low as $2.53. Atomera shares last traded at $2.66, with a volume of 104,151 shares traded.

Analyst Upgrades and Downgrades

Separately, Craig Hallum decreased their target price on shares of Atomera from $13.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Atomera Trading Up 5.6 %

The firm has a market cap of $71.52 million, a price-to-earnings ratio of -3.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.03 and a quick ratio of 6.03. The business has a 50-day moving average of $2.92 and a 200-day moving average of $4.16.

Atomera (NASDAQ:ATOM) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $0.07 million during the quarter.

Institutional Trading of Atomera

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATOM. Summit Securities Group LLC bought a new position in shares of Atomera in the 2nd quarter valued at about $31,000. Virtu Financial LLC bought a new position in Atomera during the first quarter worth about $216,000. Westside Investment Management Inc. increased its position in Atomera by 13.2% during the second quarter. Westside Investment Management Inc. now owns 95,720 shares of the technology company’s stock worth $365,000 after buying an additional 11,150 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Atomera in the second quarter valued at approximately $512,000. Finally, GSA Capital Partners LLP lifted its position in shares of Atomera by 32.8% in the first quarter. GSA Capital Partners LLP now owns 142,541 shares of the technology company’s stock valued at $878,000 after buying an additional 35,175 shares during the last quarter. 30.79% of the stock is owned by institutional investors.

About Atomera

Atomera Incorporated engages in the developing, commercializing, and licensing proprietary processes and technologies for the semiconductor industry in North America and the Asia Pacific. The company's lead technology is the Mears Silicon Technology, a thin film of reengineered silicon that can be applied as a transistor channel enhancement to CMOS-type transistors.