Why Atomera (ATOM) Shares Are Trading Higher Today - Atomera (NASDAQ:ATOM)

Atomera Inc ATOM shares traded higher Thursday since it disclosed its first-quarter results.
Atomera reported an EPS loss of ($0.21) missing the consensus loss of $(0.17).
Adjusted EBITDA loss of ($4.2) million compared to ($3.3) million loss a year ago.
The company held $17.1 million in cash and equivalents.
The company also shared its latest business updates during the results. Atomera inked a commercial license deal with STMicroelectronics N.V. STM.
It also disclosed the development of promising new technology for the higher-voltage power market.
Atomera joined American Semiconductor Innovation Coalition (ASIC).
"The new commercial license agreement demonstrates Atomera is moving toward production, and we believe MST will become increasingly utilized among leading semiconductor manufacturers," said Scott Bibaud, President and CEO.
"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. Our focus is to convert existing engagements to more license agreements."
Analyst Ratings: Craig-Hallum analyst Richard Shannon maintained Atomera with a Buy and raised the price target from $13 to $17.
Price Action: ATOM shares traded higher by 35.50% at $7.08 on the last check Thursday.

Why Atomera Shares Are Trading Higher Today