HomeTrading strategiesAtomera Inventory Bounces on Earnings, New Deal

Atomera Inventory Bounces on Earnings, New Deal

Atomera reported earnings final evening and entered an settlement with STMicroelectronics

Semiconductor inventory Atomera Inc (NASDAQ:ATOM) is up 24.9% to commerce at $6.52 right this moment, after the corporate entered a deal to supply manufacturing expertise to European chipmaker STMicroelectronics (STM). Yesterday after the shut, Atomera reported first-quarter earnings and income that had been in step with Wall Road’s estimates. In response, Craig-Hallum hiked its worth goal to $17 from $13.

At the moment’s pop — on observe to be its largest single-session achieve since February 2022 — has ATOM buying and selling at its highest stage since mid-March. The shares are set to shut above their 60-day shifting common for the primary time since in additional than two months and are actually 5.3% larger on the yr.

ATOM’s¬†sometimes quiet choices pits are exploding right this moment. Already, 1,416 calls and 233 places have been exchanged, quantity that is 53 instances the typical intraday quantity. Hottest is the June 7.50 name, adopted by the Might 7.50 name.

A brief squeeze might present further tailwinds. Within the two most up-to-date reporting intervals, quick curiosity elevated 5.6%, and the 4.48 million shares offered quick represents 19.4% of ATOM’s complete out there float.

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