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

Aehr Test Systems (NASDAQ:AEHR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $77.48, but opened at $72.09. Aehr Test Systems shares last traded at $66.5290, with a volume of 461,858 shares trading hands.

Analyst Ratings Changes

AEHR has been the subject of a number of research analyst reports. Lake Street Capital reaffirmed a “buy” rating and issued a $110.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Craig Hallum reissued a “buy” rating and set a $125.00 price objective on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Weiss Ratings cut shares of Aehr Test Systems from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, July 15th. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. 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 Stock Down 10.8%

The firm has a market cap of $2.17 billion, a P/E ratio of -289.17 and a beta of 3.17. The business has a fifty day simple moving average of $92.46 and a 200-day simple moving average of $64.54.

Insider Buying and Selling at Aehr Test Systems

In other news, Director Howard T. Slayen sold 6,819 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $104.73, for a total value of $714,153.87. Following the sale, the director directly owned 169,709 shares of the company’s stock, valued at $17,773,623.57. This represents a 3.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in Aehr Test Systems by 0.8% during the fourth quarter. Millennium Management LLC now owns 59,219 shares of the semiconductor company’s stock worth $1,196,000 after acquiring an additional 492 shares in the last quarter. KBC Group NV purchased a new position in shares of Aehr Test Systems during the first quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its position in shares of Aehr Test Systems by 241.8% in the 2nd quarter. CoreCap Advisors LLC now owns 1,251 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 885 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Aehr Test Systems in the 3rd quarter worth approximately $27,000. Finally, Tema ETFs LLC purchased a new stake in shares of Aehr Test Systems in the 2nd quarter worth approximately $89,000. 69.69% of the stock is owned by hedge funds and other 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.