Craig-Hallum Starts Aterian (ATER) at Buy
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Craig-Hallum analyst Alex Fuhman initiates coverage on Aterian (NASDAQ: ATER) with a Buy rating and a price target of $3.00.
The analyst comments "Aterian has been successfully implementing a turnaround over the past three years, but sky-high container costs have hidden this progress. Aterian has built a strong technology-enabled consumer products business over the past few years, inflecting to positive adj. EBITDA in 2020 after years of losses. Its proprietary AIMEE commerce operating system helped the company to identify underserved corners of the Amazon ecosystem and informed efficient M&A and new product launches in these areas. While the core aspects of ATER’s turnaround remain intact, this progress has been obscured by a dramatic rise in container costs coming out of the pandemic, which substantially reduced Aterian’s margins and caused a return to negative EBITDA in 2021 and 2022."
For an analyst ratings summary and ratings history on Aterian click here. For more ratings news on Aterian click here.
Shares of Aterian closed at $1.36 yesterday.
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