Aterian, Inc. (ATER) has seen an incline of 3.45% in the aftermarket. However, the last trading session closed at $17.98 with an increase of 52.37%.
Well, there is no news regarding ATER on today’s date. Still, there is certain news in the recent past that impact the stock to a great extent. Let’s see and analyze some of the important news launched by the company.
ATER introduces a Shareholder Perks Program
ATER announced the launch of the Shareholder Perks Program on August 30, 2021. The program provides Aterian shareholders who meet certain criteria with various discounts on the company’s best-selling goods.
Shareholders who sign up for the Perks Program will get weekly emails with valuable discounts that they may utilize across many platforms.
Second Quarter Results of 2021 by ATER
On August 9th, 2021, ATER released its second-quarter results. Net sales grew by 14% to $68.2 million in the second quarter of 2020. In the second quarter of 2020, the gross margin grew to 48.0 percent.
Moreover, operating income grew to $4.5 million from an operating loss of $(1.8) million in the second quarter of 2020. The change in fair value of earn-out commitments resulted in a $23.3 million profit.
Lastly, in Q2 2021, the contribution margin dropped to 8.3 percent, down from 16.8 percent in Q2 2020.
Investigation of Array Technologies
ATER announced the investigation against ARRY on August 6, 2021. Firstly, they claim ARRY made fraudulent and misleading representations by failing to disclose the pricing of various goods, including steel.
Secondly, the Company’s Offering Materials, according to the Complaint, contained false and misleading statements. Thirdly, they did so by concealing the fact that previous to the Offerings, rises in commodity and freight prices had been severely impacting the Company’s business and operations.
The announcement of financial statistics for the second quarter of 2021 elicited a negative reaction from investors. The net loss of the Aterian shares has increased significantly as compared to the same time the previous year. Last but not the least, Investors should perform comprehensive research before adding ATER stock to their portfolios.