Aterian, Inc. (NASDAQ:ATER) Short Interest Down 7.2% in October

Aterian, Inc. (NASDAQ:ATER) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 264,900 shares, a drop of 7.2% from the October 15th total of 285,500 shares. Based on an average daily trading volume, of 53,100 shares, the days-to-cover ratio is presently 5.0 days. Currently, 4.0% of the shares of the stock are short sold.

Aterian Stock Performance

Shares of ATER opened at $2.39 on Tuesday. Aterian has a twelve month low of $1.90 and a twelve month high of $6.54. The firm’s 50-day moving average is $2.93 and its two-hundred day moving average is $2.82.

Aterian (NASDAQ:ATER) last released its quarterly earnings results on Monday, November 11th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.30. Aterian had a negative return on equity of 56.01% and a negative net margin of 17.05%. The business had revenue of $26.24 million for the quarter.

Insider Activity

In other Aterian news, Director William Kurtz sold 8,547 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.01, for a total value of $25,726.47. Following the completion of the transaction, the director now owns 47,216 shares in the company, valued at approximately $142,120.16. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Arturo Rodriguez sold 10,325 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $3.07, for a total transaction of $31,697.75. Following the sale, the chief executive officer now owns 531,588 shares in the company, valued at $1,631,975.16. The trade was a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,562 shares of company stock valued at $149,135 in the last three months. 10.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in shares of Aterian by 39.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 24,750 shares of the company’s stock worth $68,000 after buying an additional 7,050 shares in the last quarter. Jane Street Group LLC acquired a new position in Aterian during the third quarter worth about $33,000. XTX Topco Ltd purchased a new stake in shares of Aterian in the second quarter valued at about $59,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Aterian during the 3rd quarter worth approximately $102,000. Hedge funds and other institutional investors own 7.02% of the company’s stock.

About Aterian

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.