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

Aehr Test Systems (NASDAQ:AEHR)’s stock price gapped down before the market opened on Friday. The stock had previously closed at $61.21, but opened at $54.17. Aehr Test Systems shares last traded at $56.1090, with a volume of 405,779 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen raised Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Aehr Test Systems in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of Aehr Test Systems in a report on Thursday, August 13th. They set a “buy” rating and a $175.00 price target for the company. Oppenheimer began coverage on Aehr Test Systems in a research report on Thursday, September 10th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Aehr Test Systems presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Aehr Test Systems Stock Down 11.6%

The business’s 50 day simple moving average is $84.69 and its two-hundred day simple moving average is $73.63. The stock has a market cap of $1.77 billion, a P/E ratio of -224.47 and a beta of 3.47.

Insider Transactions at Aehr Test Systems

In other news, Director Howard Slayen sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the transaction, the director owned 146,367 shares of the company’s stock, valued at approximately $15,851,546.10. This trade represents a 12.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gayn Erickson sold 40,000 shares of Aehr Test Systems stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.84, for a total transaction of $5,233,600.00. Following the transaction, the chief executive officer owned 157,723 shares in the company, valued at approximately $20,636,477.32. This trade represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 109,475 shares of company stock worth $13,827,160. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AEHR. BlackRock Inc. acquired a new position in Aehr Test Systems during the 2nd quarter worth about $255,476,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aehr Test Systems during the 2nd quarter worth approximately $64,433,000. AWM Investment Company Inc. acquired a new position in shares of Aehr Test Systems in the 2nd quarter worth approximately $36,004,000. Bard Associates Inc. acquired a new position in shares of Aehr Test Systems in the 2nd quarter worth approximately $15,072,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Aehr Test Systems in the 2nd quarter valued at $14,476,000. 69.69% of the stock is owned by institutional investors.

About Aehr Test Systems

Aehr Test Systems (NASDAQ: AEHR) develops and manufactures test and burn-in equipment used to qualify and screen semiconductor devices. Its systems are designed to identify manufacturing defects and reliability issues before chips are shipped to customers, helping semiconductor manufacturers improve production yields and product quality.

The company’s product portfolio includes the FOX family of semiconductor test systems, including the FOX-XP, FOX-NP and FOX-1P platforms. Aehr also provides wafer contactors, DiePak carriers and related test fixtures and software.