Aterian (NASDAQ:ATER) to Repurchase $3.00 million in Stock

Aterian (NASDAQ:ATER) announced that its board has authorized a stock repurchase program on Tuesday, March 18th, RTT News reports. The company plans to buyback $3.00 million in shares. This buyback authorization allows the company to repurchase up to 16.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Aterian Price Performance

NASDAQ ATER opened at $2.11 on Wednesday. The business has a fifty day moving average price of $2.19 and a two-hundred day moving average price of $2.56. Aterian has a fifty-two week low of $1.86 and a fifty-two week high of $4.32. The stock has a market capitalization of $18.47 million, a PE ratio of -0.77 and a beta of 2.03.

Aterian (NASDAQ:ATER) last released its earnings results on Tuesday, March 18th. The company reported ($0.18) earnings per share 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 firm had revenue of $24.61 million during the quarter, compared to analysts’ expectations of $23.48 million.

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.