Aterian, Inc. (NASDAQ:ATER) Short Interest Update

Aterian, Inc. (NASDAQ:ATER) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 277,900 shares, a growth of 40.3% from the March 15th total of 198,100 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 904,500 shares, the days-to-cover ratio is presently 0.3 days.

Aterian Stock Down 0.3 %

Aterian stock opened at $1.70 on Friday. The stock has a market cap of $14.83 million, a price-to-earnings ratio of -0.62 and a beta of 1.68. The business has a 50-day simple moving average of $2.06 and a 200 day simple moving average of $2.37. Aterian has a 52 week low of $1.56 and a 52 week high of $3.84.

Aterian (NASDAQ:ATER) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $23.48 million.

Aterian announced that its board has authorized a share buyback plan on Tuesday, March 18th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 16.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

ATER has been the subject of a number of analyst reports. Alliance Global Partners restated a “buy” rating on shares of Aterian in a research report on Wednesday, March 19th. Industrial Alliance Securities set a $4.00 price target on shares of Aterian in a report on Wednesday, March 19th.

Institutional Investors Weigh In On Aterian

Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in Aterian in the 3rd quarter worth approximately $33,000. Squarepoint Ops LLC bought a new stake in shares of Aterian in the 4th quarter worth approximately $64,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Aterian by 93.3% in the 4th 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 in the last quarter. Institutional investors own 7.02% of the company’s stock.

Aterian Company Profile

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.