-1.5 C
New York
Thursday, February 2, 2023

Aterian, Inc. (ATER) Stock Steadily Rising in Premarket, Here’s Why

Aterian, Inc. (ATER), a technology-enabled consumer products company, has seen an increase of 3.83% in the premarket trading session. As a result, ATER stock is changing hands at $17.36 at the time of writing. On Wednesday, ATER stock closed the day at $16.72 after increasing 28.62% in regular trading hours. The rise seems to be due to short interest from the buyers, with long-term investors fearing the post-selling scenario. Another factor behind this rise could be the recent launch of the shareholders’ perk program by Aterian, due to which, the stock has been rising continuously for the last few days.

ATER launched shareholders perk program

ATER announced this shareholder perk program on 30th August 2021. According to the details, the company granted various discounts to the shareholders who would meet certain terms and conditions. The discounts would be granted on best-selling products from Aterian websites or Amazon.com. Yaniv Sarig, Co-founder and CEO of Aterian, said that the company envisioned a shareholders perks program since the time it became public.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

Q2 2021 financial results

On 9th August, ATER reported the quarterly results for the second quarter of the fiscal year 2021, which ended 30th June 2021. According to the details, the company had cash and cash equivalents of $26.71 million on 30th June. Besides, the total assets were $157.45 million. The total liabilities were $134.07 million.

ATER generated net revenue of $59.80 million during the quarter, whereas, during the equivalent period of 2020, the net revenue was $68.18 million. The gross profit generated during the quarter was $27.60 million. During the equivalent period of 2020, the gross profit was $32.74 million. The total operating expenses during the quarter stood at $29.42 million. During the equivalent period of 2020, the total operating expenses were $28.27 million.

The company bore an operating loss of $1.82 million during the quarter. During the equivalent period of 2020, the operating profit generated by the company was $4.46 million. The net loss during the quarter bore by the company stood at $2.93 million. During the equivalent period of 2020, the net loss stood at $36.30 million. Consequently, the net loss per basic and diluted share during the quarter was $0.19. During the comparative period of 2020, the net loss per basic and diluted share was $1.23. Commenting on the results, Yaniv Sarig said that the quarter was a particularly hard one for e-commerce businesses around the globe, hence impacting the business of the company. He expressed hope that future times would prove to be remarkable for the company.

What’s ahead for ATER?

The future performance of ATER looks to be positive. The company is expected to generate revenue of $348.07 million during the next fiscal, compared to $267.43 million during the current fiscal. As for ATER stock, in the short term, it is expected that selling would impart its influence in negatively affecting its performance. But analysts hope that in the long run, ATER stock would grow. http://www.bingo-game.org/

Latest news

Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here