Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $96.93, but opened at $93.96. Aehr Test Systems shares last traded at $97.2620, with a volume of 296,347 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AEHR shares. Wall Street Zen raised shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Oppenheimer started coverage on Aehr Test Systems in a research report on Thursday, September 10th. They issued an “outperform” rating and a $120.00 target price on the stock. Weiss Ratings downgraded shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Lake Street Capital reissued a “buy” rating and set a $110.00 price target on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Finally, Freedom Capital upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aehr Test Systems currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Aehr Test Systems Stock Up 0.7%

The stock has a market cap of $3.19 billion, a PE ratio of -406.87 and a beta of 3.06. The business has a 50 day moving average price of $93.43 and a 200 day moving average price of $83.18.

Insider Buying and Selling

In other news, Director Rhea J. Posedel sold 8,413 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the sale, the director owned 387,962 shares of the company’s stock, valued at $50,435,060. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gayn Erickson sold 40,000 shares of Aehr Test Systems stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.84, for a total transaction of $5,233,600.00. Following the transaction, the chief executive officer directly owned 157,723 shares of the company’s stock, valued at approximately $20,636,477.32. This trade represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 109,475 shares of company stock valued at $13,827,160 in the last three months. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Aehr Test Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Aehr Test Systems by 33.4% in the second quarter. The Manufacturers Life Insurance Company now owns 10,480 shares of the semiconductor company’s stock valued at $1,007,000 after buying an additional 2,624 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Aehr Test Systems in the second quarter worth about $1,512,000. Engineers Gate Manager LP boosted its stake in shares of Aehr Test Systems by 5.2% during the 2nd quarter. Engineers Gate Manager LP now owns 21,542 shares of the semiconductor company’s stock worth $2,069,000 after acquiring an additional 1,069 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Aehr Test Systems during the 2nd quarter worth about $166,000. Finally, Arizona State Retirement System boosted its stake in shares of Aehr Test Systems by 3.2% during the 2nd quarter. Arizona State Retirement System now owns 8,245 shares of the semiconductor company’s stock worth $792,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 69.69% of the company’s stock.

About Aehr Test Systems

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures semiconductor test and burn-in equipment used to verify the reliability and performance of integrated circuits, wafers and packaged devices. Its systems are designed to identify defects and reliability issues before semiconductor products are shipped to customers.

The company’s product portfolio includes the FOX family of test and burn-in systems, along with wafer-level and packaged-device solutions such as WaferPak contactors and DiePak carriers.