Street Calls of the Week
Investing.com - Litchfield Hills Research initiated coverage on Aether Holdings (NASDAQ:ATHR) with a Buy rating and a $10.00 price target on Monday. The stock currently trades at $4.96, significantly below its 52-week high of $19.69, though InvestingPro data indicates high price volatility.
The research firm’s analysis is based on a discounted earnings model for the company, according to its research note.
Litchfield Hills Research noted that compared to the simple average of its peers, Aether Holdings shares currently sell at a discount on sales measures ranging from 42% to 57%.
The firm suggested that if ATHR were to trade simply at the average of its peers, the stock would approach the $10.00 price target established in its initial coverage.
Litchfield Hills further stated that due to Aether’s growth potential, the company could potentially trade above the peer average.
In other recent news, Aether Holdings, Inc. announced the commencement of a public offering expected to raise approximately $40 million. The company plans to allocate 85% of these proceeds to acquire bitcoin, aligning with a new bitcoin treasury strategy. The remaining 15% will be used for working capital needs. Additionally, Aether’s subsidiary, Alpha Edge Media, has acquired AltcoinInvesting.co, a digital asset research publication. This acquisition includes operational assets, intellectual property, and a subscriber base, though the financial terms were not disclosed. These developments reflect Aether’s efforts to expand its focus beyond traditional equities and into the digital asset space.
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