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

Aehr Test Systems (NASDAQ:AEHR) gapped up prior to trading on Monday . The stock had previously closed at $35.67, but opened at $38.00. Aehr Test Systems shares last traded at $38.27, with a volume of 382,455 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Lake Street Capital initiated coverage on shares of Aehr Test Systems in a research note on Wednesday, December 17th. They set a “buy” rating for the company. William Blair raised shares of Aehr Test Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, March 2nd. Craig Hallum restated a “hold” rating on shares of Aehr Test Systems in a report on Friday, January 9th. Zacks Research raised shares of Aehr Test Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.00.

Aehr Test Systems Stock Performance

The company has a 50 day moving average of $31.08 and a 200-day moving average of $27.22. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -128.87 and a beta of 2.22.

Aehr Test Systems (NASDAQ:AEHR) last released its earnings results on Thursday, January 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. The company had revenue of $9.88 million during the quarter, compared to the consensus estimate of $11.45 million. Aehr Test Systems had a negative return on equity of 4.57% and a negative net margin of 16.63%. On average, research analysts anticipate that Aehr Test Systems will post 0.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Laura Oliphant sold 4,546 shares of Aehr Test Systems stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $31.40, for a total value of $142,744.40. Following the completion of the transaction, the director owned 18,432 shares in the company, valued at approximately $578,764.80. The trade was a 19.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rhea J. Posedel sold 13,998 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.02, for a total transaction of $420,219.96. Following the sale, the director directly owned 456,979 shares in the company, valued at approximately $13,718,509.58. The trade was a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

A number of large investors have recently modified their holdings of AEHR. Sunbelt Securities Inc. purchased a new position in Aehr Test Systems in the third quarter valued at $27,000. Jones Financial Companies Lllp increased its holdings in Aehr Test Systems by 3,448.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Aehr Test Systems during the 4th quarter worth about $25,000. RiverPark Advisors LLC acquired a new stake in Aehr Test Systems in the 3rd quarter valued at about $42,000. Finally, State of Wyoming acquired a new stake in Aehr Test Systems in the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 69.69% of the company’s stock.

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.