Aterian (NASDAQ:ATER) Shares Gap Up to $11.80

Aterian, Inc. (NASDAQ:ATER)’s share price gapped up before the market opened on Monday . The stock had previously closed at $11.80, but opened at $13.00. Aterian shares last traded at $15.62, with a volume of 448,412 shares.

A number of research analysts have weighed in on ATER shares. BTIG Research cut their price objective on shares of Aterian from $36.00 to $10.00 and set a “buy” rating for the company in a report on Monday, August 9th. Roth Capital cut shares of Aterian from a “buy” rating to a “neutral” rating and set a $5.50 price objective for the company. in a report on Tuesday, August 10th. Alliance Global Partners cut their price objective on shares of Aterian from $30.00 to $9.00 and set a “buy” rating for the company in a report on Monday, August 9th. Oppenheimer reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Aterian in a report on Thursday, June 3rd. Finally, Zacks Investment Research cut shares of Aterian from a “hold” rating to a “sell” rating in a report on Wednesday, July 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.30.

The company has a market cap of $391.66 million, a price-to-earnings ratio of -1.67 and a beta of 4.12. The firm’s 50-day moving average price is $8.23.

Aterian (NASDAQ:ATER) last posted its quarterly earnings results on Sunday, August 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.18. The firm had revenue of $68.19 million for the quarter, compared to analyst estimates of $98.03 million. Aterian had a negative net margin of 75.72% and a negative return on equity of 70.90%. Equities analysts expect that Aterian, Inc. will post -2.05 EPS for the current fiscal year.

In other Aterian news, major shareholder 9830 Macarthur, Llc sold 68,406 shares of Aterian stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $7.15, for a total transaction of $489,102.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ATER. Citigroup Inc. acquired a new position in shares of Aterian in the 2nd quarter valued at $35,000. Advisor Group Holdings Inc. purchased a new position in Aterian during the 2nd quarter worth $43,000. Ayalon Holdings Ltd. purchased a new position in Aterian during the 2nd quarter worth $61,000. Royal Bank of Canada purchased a new position in Aterian during the 2nd quarter worth $65,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Aterian in the 2nd quarter valued at about $112,000. Institutional investors own 30.82% of the company’s stock.

About Aterian (NASDAQ:ATER)

Aterian, Inc is a technology enabled consumer products company. The company’s brands include hOme, Vremi, Xtava and RIF6. Its product categories include home and kitchen appliances, kitchenware, environmental appliances, beauty related products and consumer electronics. The company was founded by Yaniv Sarig Zion in 2014 and is headquartered in New York, NY.

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