Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Time to Sell?

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped down prior to trading on Thursday . The stock had previously closed at $129.23, but opened at $123.01. Aehr Test Systems shares last traded at $120.5230, with a volume of 859,938 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AEHR shares. Lake Street Capital restated a “buy” rating and set a $110.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Wall Street Zen upgraded Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings lowered Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Zacks Research raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Craig Hallum restated a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $117.50.

Aehr Test Systems Trading Down 0.6%

The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -534.27 and a beta of 3.10. The firm’s fifty day simple moving average is $91.98 and its two-hundred day simple moving average is $70.33.

Insider Buying and Selling

In related news, Director Howard T. Slayen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total value of $2,166,000.00. Following the transaction, the director directly owned 146,367 shares in the company, valued at approximately $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alistair N. Sporck sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $100.96, for a total value of $201,920.00. Following the completion of the transaction, the vice president owned 23,547 shares of the company’s stock, valued at $2,377,305.12. The trade was a 7.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,000 shares of company stock worth $2,476,410 over the last quarter. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Aehr Test Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Aehr Test Systems in the 2nd quarter valued at about $64,433,000. Bard Associates Inc. acquired a new stake in shares of Aehr Test Systems during the second quarter valued at about $15,072,000. Ninepoint Partners LP acquired a new stake in shares of Aehr Test Systems during the second quarter valued at about $960,000. BlackRock Inc. purchased a new stake in shares of Aehr Test Systems in the 2nd quarter valued at approximately $255,476,000. Finally, Deutsche Bank AG purchased a new stake in shares of Aehr Test Systems in the 2nd quarter valued at approximately $3,935,000. 69.69% of the stock is owned by institutional investors and hedge funds.

Aehr Test Systems Company Profile

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.