Aterian, Inc. (NASDAQ:ATER) Short Interest Down 36.9% in May

Aterian, Inc. (NASDAQ:ATER) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 237,200 shares, a decrease of 36.9% from the May 15th total of 376,000 shares. Approximately 3.3% of the shares of the stock are sold short. Based on an average trading volume of 941,000 shares, the short-interest ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ATER shares. Alliance Global Partners lowered Aterian from a “buy” rating to a “neutral” rating in a report on Wednesday, April 23rd. Industrial Alliance Securities set a $4.00 price objective on Aterian in a research report on Wednesday, March 19th.

Aterian Trading Down 1.1%

Shares of NASDAQ:ATER traded down $0.02 on Tuesday, hitting $1.32. The company had a trading volume of 288,566 shares, compared to its average volume of 305,393. Aterian has a 52-week low of $1.22 and a 52-week high of $3.84. The business has a 50 day moving average of $1.71 and a 200 day moving average of $2.06. The company has a market cap of $11.51 million, a PE ratio of -0.48 and a beta of 0.37.

Aterian (NASDAQ:ATER) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. Aterian had a negative return on equity of 56.01% and a negative net margin of 17.05%. The company had revenue of $15.36 million for the quarter, compared to the consensus estimate of $14.95 million.

Aterian announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Phillip Lepper sold 27,532 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $1.65, for a total transaction of $45,427.80. Following the transaction, the insider now owns 150,402 shares of the company’s stock, valued at $248,163.30. This represents a 15.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 74,710 shares of company stock valued at $108,014 over the last quarter. Company insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Aterian

A number of large investors have recently modified their holdings of ATER. Virtu Financial LLC acquired a new stake in Aterian during the 1st quarter valued at approximately $26,000. Goldman Sachs Group Inc. grew its stake in Aterian by 73.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,392 shares of the company’s stock valued at $45,000 after purchasing an additional 9,026 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Aterian during the 4th quarter valued at approximately $64,000. Finally, Renaissance Technologies LLC grew its stake in Aterian by 93.3% during 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 and hedge funds 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.