ATER - Is Aterian Stock Overvalued Or Undervalued?

• ATER’s tech-enabled CPG platform has its merits, even as e-commerce penetration deepens within the retail space.
• ATER’s supply chain woes are more pronounced than peers given the nature of the products that it sells.
• ATER financing arrangements are sub-optimal and the company also suffers from a weak Altman Z-score.
• Given the growth profile, valuations appear to be cheap and the stock appears favorably placed relative to other micro-caps and small-cap discretionary stocks.
• That said, the price imprints on the standalone chart still doesn’t show any sign of bottoming out.

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