Aterian (NASDAQ:ATER) Board Announces Share Repurchase Plan

Aterian (NASDAQ:ATER) declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th, RTT News reports. The company plans to repurchase $3.00 million in shares. This repurchase authorization permits the company to buy up to 16.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Aterian Price Performance

ATER opened at $2.35 on Friday. The stock has a market capitalization of $20.57 million, a price-to-earnings ratio of -0.86 and a beta of 2.03. The business has a 50-day moving average of $2.19 and a two-hundred day moving average of $2.56. Aterian has a 12 month low of $1.86 and a 12 month high of $3.95.

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

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.