Eye-Catching Stock to Track: Atomera Incorporated’s (NASDAQ: ATOM)

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Atomera Incorporated,ATOM

Shares of Atomera Incorporated’s (NASDAQ: ATOM) fluctuated between $3.00 and $3.225 before finishing off the trading period lower/higher with +2.34% at $3.0803. The shares cited trading volume 36,517 shares as compared to its three months average volume of 50,565 shares.

Atomera Incorporated (ATOM) recently provided a corporate update and reported financial results for the third quarter ended Sept. 30, 2018.

Company Highlights

  • Signed integration license contracts with Asahi Kasei Microdevices and STMicroelectronics
  • Added two new consumers to reach 20 engagements underway with 16 different consumers
  • Strengthened balance sheet with $11.5M of net proceeds from equity offering
  • Four new patents granted

Management Commentary

“With the first two licenses executed, and a robust balance sheet, Atomera is stronger than ever and well positioned to deliver meaningful shareholder value as we deploy MST into semiconductor foundries and IDMs,” stated Scott Bibaud, President and CEO.  “Further, we continue to augment our intellectual property portfolio with four new US patents allowed during the quarter and improvements to MST that will bring new value to our consumers.  We achieved these results while holding our cash consumption basically flat contrast to Q2.”

Third Quarter 2018 Financial Results

  • During the third quarter of 2018 the Company incurred a net loss of $3.4M, or ($0.28) per basic and diluted share, contrast to a net loss of $3.3M, or ($0.28) per basic and diluted share, for the third quarter of 2017.  Adjusted EBITDA (a non-GAAP financial measure) in the third quarter of 2018 was a loss of $2.8M contrast to an adjusted EBITDA loss of $2.4M in the third quarter of 2017.
  • The Company had $10.0M in cash and cash equivalents as of Sept. 30, 2018, contrast to $12.3M as of June 30, 2018 and $17.4M as of December 31, 2017.  The Company’s equity financing closed on October 15, 2018 adding $11.5M to Atomera’s cash balance.
  • The total number of shares outstanding was 12,408,525 as of Sept. 30, 2018.  After completion of the Company’s equity offering on October 15, 2018, shares outstanding were 15,033,525.

The corporation holds 14.71 million outstanding shares and its 13.04 million shares were floated in the market. (ATOM) price volatility for a month noted as 10.87% however its price volatility for a week documented as 7.29%. The stock established a negative trend of -1.90% in last week and indicated rise of 4.24% in previous month.

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