Aterian, Inc. (ATER) has experienced a decrease of 3.37% in the aftermarket. However, the last trading session concluded on $9.21 with a decrease of 29.35%.
What’s happening?
ATER has not declared any latest news or any press release. Yet there are some recent updates regarding ATER.
ATER launches Shareholder Perks Program
On 30 August 2021, ATER announced the introduction of the Shareholder Perks Program. The program offers Aterian stockholders who satisfy specific requirements different discounts on the company’s best-selling items.
Shareholders who join the Perks Program will receive weekly emails with attractive savings they can use across different platforms.
ATER published second quarter 2021 results
ATER announced second-quarter results 2021 on 9th August 2021. In the second quarter of 2020, net sales increased by 14% to $68.2 million. The Gross margin increased to 48.0 percent in the second quarter of 2020
Compared to an operating loss of $(1.8) million in the second quarter of 2020, operating income increased to $4.5 million. This included a $23.3 million profit from the change in fair value of earn-out obligations.
Last but not the least, the contribution margin fell to 8.3 percent in Q2 2021, down from 16.8 percent in Q2 2020.
ATER announces investigation of Array Technologies
On 6th August 2021, ATER announces the filing of a class-action lawsuit against ARRY. They state that ARRY made false and misleading statements because they failed to disclose the prices of certain commodities, such as steel.
The Complaint further claims that the Company’s Offering Materials made false and misleading representations. They did so by omitting that increases in commodity and freight prices had been negatively impacting the Company’s business and operations prior to the Offerings.
Conclusion
Investors have reacted badly to the release of financial data for the second quarter of 2021. When compared to the same period the previous year, the Aterian stock’s net loss has grown considerably. Before adding ATER stock to their portfolio, investors should conduct extensive research.
