Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – What’s Next?

Aehr Test Systems (NASDAQ:AEHR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $96.06, but opened at $90.27. Aehr Test Systems shares last traded at $91.3650, with a volume of 179,781 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AEHR. Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a research note on Wednesday, April 8th. Wall Street Zen upgraded Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Craig Hallum upgraded Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Wednesday, April 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Aehr Test Systems presently has an average rating of “Hold” and an average target price of $68.00.

Aehr Test Systems Trading Down 8.4%

The stock has a market capitalization of $2.77 billion, a P/E ratio of -231.20 and a beta of 3.17. The firm’s fifty day moving average is $98.48 and its 200-day moving average is $57.06.

Aehr Test Systems (NASDAQ:AEHR) last released its quarterly earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $10.31 million for the quarter, compared to analyst estimates of $10.85 million. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. Equities research analysts expect that Aehr Test Systems will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other Aehr Test Systems news, Director Rhea J. Posedel sold 30,000 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. Following the transaction, the director owned 426,979 shares of the company’s stock, valued at approximately $29,888,530. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gayn Erickson sold 96,036 shares of the company’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $70.58, for a total transaction of $6,778,220.88. Following the transaction, the chief executive officer owned 197,723 shares in the company, valued at approximately $13,955,289.34. This trade represents a 32.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 375,005 shares of company stock worth $28,656,178 over the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Trading of Aehr Test Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Aehr Test Systems during the 4th quarter worth $25,000. Sunbelt Securities Inc. bought a new position in Aehr Test Systems during the third quarter worth about $27,000. State of Wyoming acquired a new position in Aehr Test Systems in the second quarter valued at about $28,000. KBC Group NV bought a new stake in shares of Aehr Test Systems in the first quarter worth about $30,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Aehr Test Systems in the third quarter worth about $42,000. 69.69% of the stock is owned by institutional investors.

About Aehr Test Systems

Aehr Test Systems develops, manufactures and sells semiconductor test and burn-in equipment used by device manufacturers to ensure quality and reliability of integrated circuits. Its products are designed for wafer-level reliability assessment, functional test and stress screening of memory devices, system-on-chips, optical components and power semiconductors. By focusing on wafer-level burn-in and testing processes, the company helps reduce cost and improve yield for high-volume semiconductor production.

The company’s product portfolio includes FOX series wafer probe test and burn-in systems as well as ABTS burn-in ovens.