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

Aterian, Inc. (NASDAQ:ATER) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 6,090,000 shares, a decline of 20.3% from the August 15th total of 7,640,000 shares. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is presently 4.8 days. Approximately 8.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in Aterian during the 2nd quarter worth about $29,000. Rhumbline Advisers lifted its holdings in Aterian by 37.5% during the 1st quarter. Rhumbline Advisers now owns 22,753 shares of the company’s stock worth $55,000 after buying an additional 6,205 shares during the period. Virtu Financial LLC acquired a new position in Aterian during the 1st quarter worth about $61,000. American International Group Inc. lifted its holdings in Aterian by 121.2% during the 2nd quarter. American International Group Inc. now owns 28,505 shares of the company’s stock worth $62,000 after buying an additional 15,618 shares during the period. Finally, LPL Financial LLC acquired a new position in Aterian during the 2nd quarter worth about $65,000. 11.19% of the stock is owned by institutional investors and hedge funds.

Aterian Price Performance

ATER stock traded down $0.01 during midday trading on Monday, reaching $0.32. 474,737 shares of the stock were exchanged, compared to its average volume of 1,434,562. The stock has a market capitalization of $27.34 million, a PE ratio of -0.11 and a beta of 1.88. Aterian has a 52 week low of $0.31 and a 52 week high of $2.26. The company has a fifty day moving average price of $0.45 and a 200 day moving average price of $0.62.

Aterian (NASDAQ:ATER) last issued its quarterly earnings data on Tuesday, August 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The firm had revenue of $35.26 million for the quarter, compared to the consensus estimate of $35.10 million. Aterian had a negative return on equity of 68.23% and a negative net margin of 103.36%. As a group, analysts anticipate that Aterian will post -0.51 earnings per share for the current fiscal year.

Aterian Company Profile

Aterian, Inc, together with its subsidiaries, operates as a technology-enabled consumer products company in North America and internationally. It provides Artificial Intelligence Marketplace e-Commerce Engine, a software technology platform, which uses machine learning, natural language processing, and data analytics to design, develop, market, and sell products.