Alliance Global Partners analyst Brian Kinstlinger upgraded Aterian to Buy from Neutral with a $5 price target after the company posted Q1 revenue of $20.2M, which was slightly better than the firm’s estimate, and Q1 gross margin of 65%, “which is the highest by far in its history,” as well as the limited adjusted EBITDA loss. The firm sees the Q1 results as evidence of the substantial progress executed by management and believes management has “completed a large portion of the heavy lifting,” the analyst tells investors.
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