Aterian, Inc. (NASDAQ:ATER) Chief Financial Officer Joshua Feldman has recently sold a portion of his stock in the company, according to the latest filings. Feldman offloaded 1,919 shares of common stock at an average price of $3.07, resulting in a total transaction value of approximately $5,891.
The sale took place on September 11, with the prices of the shares ranging from $3.04 to $3.12. Following the transaction, Feldman's direct holdings in the company decreased to 145,969 shares of common stock. The sale was conducted automatically to satisfy tax withholding obligations related to the vesting of restricted stock awards, as noted in the filing's footnotes.
Investors and followers of Aterian, Inc. can request detailed information about the exact number of shares sold at each price point within the provided range, as Feldman has agreed to furnish such details upon request to the company, its security holders, or the SEC staff.
Aterian, Inc., known for its electric housewares and fans, has been publicly traded under the ticker symbol ATER and continues to be active in the manufacturing sector.
This transaction comes amidst the regular financial disclosures required by company executives, providing transparency into the trading activities of Aterian's top management.
In other recent news, Aterian Inc. reported significant developments. The company experienced a substantial increase in gross and contribution margins for Q1 2024, despite a 42% decrease in net revenue. Gross margins rose to 65.1%, and contribution margins improved to 14.1%. The projected net revenue for Q2 2024 is anticipated to be between $20 million and $23 million, primarily impacted by strategic SKU rationalization.
In addition, Aterian recently appointed William Kurtz as an advisor to its senior management team. The company also held its 2024 Annual Meeting of Stockholders, where Susan Lattmann was elected as a Class II Director and the appointment of UHY LLP as the independent registered public accounting firm was ratified.
Furthermore, the company announced the retirement of board member Cynthia Williams, who will not seek reelection and will retire at the conclusion of the company's 2024 Annual Meeting of Stockholders. These are some of the recent developments in Aterian Inc.
InvestingPro Insights
As Aterian, Inc. (NASDAQ:ATER) navigates the market, the recent stock sale by CFO Joshua Feldman has caught the attention of investors. In light of this development, it's worth considering some key financial metrics and insights from InvestingPro that may shed light on the company's current financial health and market performance.
InvestingPro data reveals that Aterian has a market capitalization of approximately $23.36 million, placing it in the smaller spectrum of publicly traded companies. The company's revenue for the last twelve months as of Q2 2024 stands at $120.62 million, although it has experienced a notable decline of 36.97% in revenue growth during the same period. Despite this, Aterian maintains a robust gross profit margin of 55.01%, indicating that it still retains a majority of its revenue after accounting for the cost of goods sold.
InvestingPro Tips highlight that Aterian holds more cash than debt, suggesting a stable liquidity position that could be reassuring for investors. Additionally, with liquid assets surpassing short-term obligations, the company appears to have a cushion to manage its immediate financial responsibilities. However, analysts have flagged concerns, anticipating a sales decline in the current year, and noting that the company may not be profitable this year.
For investors interested in further insights, InvestingPro offers additional tips on Aterian, Inc., including detailed analysis on the company's valuation multiples and stock price volatility. A total of 13 additional InvestingPro Tips can be found, providing a comprehensive outlook on the company's financial standing and future prospects.
With Aterian's stock price movements being quite volatile, as indicated by a 45.09% return over the last three months, yet a 19.78% drop over the last six months, investors may wish to closely monitor the company's performance and consider the broader financial context provided by InvestingPro. The next earnings date on November 8, 2024, could offer further clarity on the company's trajectory.
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