Stock Buyback Program Authorized by Aterian (NASDAQ:ATER)

Aterian (NASDAQ:ATER) declared that its board 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 purchase up to 16.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Aterian Stock Performance

ATER opened at $2.70 on Thursday. The company has a market cap of $23.64 million, a price-to-earnings ratio of -0.99 and a beta of 2.03. Aterian has a one year low of $1.86 and a one year high of $3.96. The business’s fifty day moving average is $2.20 and its two-hundred day moving average is $2.56.

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

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.