The stock of Atomera Incorporated (NASDAQ:ATOM) is now priced at $12.71 and the shares are 1.79 points up or 16.39% higher compared to its previous closing price of $10.92. The stock had 2.746 million contracts set over the past session. ATOM shares’ daily volume is compared to its average trading volume at 0.649 million shares. However, it has a float of 15.66 million and although its performance was 9.47% over the week, it’s one to watch. Analysts have given the ATOM stock a yearly average price target of $14.5 per share. It means the stock’s upside potential is 14.08% with the ATOM share price recently placing at $11.19 to $13.3. However, some brokerage firms have priced the stock below the average, including one that has called $14.

The shorts are climbing into the Atomera Incorporated stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ATOM shares have risen. Short interest in the stock represents just 10.82% of its float, but the volume has raised by 523910. The volume of shorted shares rised to 1.695 million from 1.171 million shares over the last two weeks. The average intraday trading volume has been 854670 shares, which means that days to cover moved to roughly 1.982649.

In the last trading session, Atomera Incorporated (NASDAQ:ATOM) raised by $1.1 over the week and gained $1.26 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.3. The stock recorded its established 52-week high on 08/31/20.

Since 03/23/20, the stock has traded to a low of $2.53 at 402.37%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Atomera Incorporated’s two-week RSI is 64.02. This suggests that the stock is neutral at the moment and that ATOM shares’ price movement remains stable. The stochastic readings are equally revealing at 43.08% meaning the ATOM share price is currently in neutral territory.

The technical chart shows that the ATOM stock will likely settle at between $13.61 and $14.51 per share. However, if the stock dips below $11.5, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $10.29.

Currently, the stock is trading in the red of MACD, with a reading of -0.05. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Maxim Group assigned ATOM a rating of Buy in their intiating review released on October 18. Loop Capital analysts see the stock as a Buy in a flash note released to investors on June 22 initiating covering the stock.

The average rating for the ATOM equity is 2 and is currently gathering a bullish momentum. Of 2 analysts tracking Atomera Incorporated polled by Reuters, 0 rated ATOM as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

The stocks P/S ratio currently stands below the group’s average of 30.9. Atomera Incorporated has its P/E ratio at 14.3, which means that the stock is currently trading at a premium relative to the 8 industry average.