Atomera (NASDAQ:ATOM) Shares Down 6.8%

Atomera Incorporated (NASDAQ:ATOM) shares fell 6.8% during mid-day trading on Tuesday . The company traded as low as $23.73 and last traded at $23.91. 3,421 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 644,001 shares. The stock had previously closed at $25.65.

Separately, Craig Hallum began coverage on shares of Atomera in a report on Wednesday, June 9th. They issued a “buy” rating and a $28.00 price objective for the company.

The firm has a market cap of $552.46 million, a price-to-earnings ratio of -33.77 and a beta of 1.55. The company’s 50-day moving average price is $22.13 and its 200-day moving average price is $21.49.

Atomera (NASDAQ:ATOM) last issued its earnings results on Monday, August 2nd. The technology company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.04).

A number of large investors have recently modified their holdings of ATOM. Newbridge Financial Services Group Inc. acquired a new stake in Atomera in the second quarter valued at approximately $32,000. FORA Capital LLC acquired a new stake in Atomera in the first quarter valued at approximately $33,000. Vectors Research Management LLC acquired a new stake in Atomera in the second quarter valued at approximately $39,000. Citigroup Inc. raised its holdings in Atomera by 41.0% in the second quarter. Citigroup Inc. now owns 2,258 shares of the technology company’s stock valued at $48,000 after acquiring an additional 657 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Atomera in the second quarter valued at approximately $49,000. 31.36% of the stock is currently owned by hedge funds and other institutional investors.

About Atomera (NASDAQ:ATOM)

Atomera, Inc engages in the development, commercializing, and licensing of proprietary processes and technologies for the semiconductor industry. It developed Mears Silicon Technology, which increases performance and power efficiency in semiconductor transistors. The company was founded by Robert Mears in April 26, 2001 and is headquartered in Los Gatos, CA.

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