Aterian, Inc. (NASDAQ:ATER) Sees Large Drop in Short Interest

Aterian, Inc. (NASDAQ:ATER) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 198,100 shares, a decrease of 17.5% from the February 28th total of 240,200 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 894,200 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Alliance Global Partners restated a “buy” rating on shares of Aterian in a research note on Wednesday, March 19th. Industrial Alliance Securities set a $4.00 price objective on Aterian in a research note on Wednesday, March 19th.

Aterian Price Performance

Shares of ATER stock opened at $2.14 on Wednesday. Aterian has a one year low of $1.86 and a one year high of $3.95. The stock has a fifty day moving average price of $2.19 and a 200 day moving average price of $2.49. The stock has a market cap of $18.73 million, a P/E ratio of -0.78 and a beta of 2.03.

Aterian (NASDAQ:ATER) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.40. Aterian had a negative return on equity of 56.01% and a negative net margin of 17.05%. The company had revenue of $24.61 million during the quarter, compared to analysts’ expectations of $23.48 million.

Aterian declared that its board has authorized a stock repurchase program on Tuesday, March 18th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the company to buy up to 16.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Aterian during the third quarter valued at $33,000. Squarepoint Ops LLC acquired a new stake in shares of Aterian during the fourth quarter worth $64,000. Finally, Renaissance Technologies LLC increased its holdings in Aterian by 93.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,493 shares of the company’s stock valued at $109,000 after purchasing an additional 21,958 shares during the last quarter. 7.02% of the stock is currently owned by institutional investors.

About Aterian

Aterian, Inc, together with its subsidiaries, operates as a technology-enabled consumer products company in North America and internationally. Its platform offers home and kitchen appliances; kitchenware; cooling and air quality appliances, such as dehumidifiers; health and beauty products; and essential oils under the Squatty Potty, hOmeLabs, Mueller, Pursteam, Healing Solutions, and Photo Paper Direct brand names.