Atomera (NASDAQ:ATOM) stock is taking off on Thursday following the release of its earnings report for the first quarter of 2023.
That’s despite the company’s diluted earnings per share of -21 cents, which is below Wall Street’s estimate of -17 cents. It’s also a wider loss than the -18 cents per share reported in the same period of the year prior.
Even so, positive comments from management are lifting investor morale today. Here’s what Scott Bibaud, president and CEO of Atomera, said in the earnings report:
“The new commercial license agreement demonstrates Atomera is moving toward production, and we believe MST will become increasingly utilized among leading semiconductor manufacturers. The industry’s current period of investment in new technology is benefitting us as we showcase MST’s improvements over standard silicon to the customers in our pipeline.”
ATOM Stock Reaction Today
With this earnings news, shares of ATOM stock are seeing incredibly heavy trading on Thursday. That has more than 737,000 shares of the company’s stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 189,000 shares.
Atomera is a semiconductor materials and technology licensing company. Its focus is on integrating its proprietary, silicon-proven technology into the semiconductor industry. Its main product is Mears Silicon Technology, which “increases performance and power efficiency in semiconductor transistors.”
ATOM stock is up 33.6% as of Thursday morning.
Investors seeking out more of the most recent stock market news are in luck!
We’ve got all of the hottest stock market news traders need to know about on Thursday! Among that is what has shares of Evelo Biosciences (NASDAQ:EVLO) stock up, the biggest pre-market stock movers this morning, and more. You can find all of that at the links below!
More Thursday Stock Market News
- Why Is Evelo Biosciences (EVLO) Stock Up 78% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- How Much Is the U.S. in Debt? What Does It Mean to Raise the Debt Ceiling?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
