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

Aehr Test Systems (NASDAQ:AEHR) shares gapped down prior to trading on Monday . The stock had previously closed at $94.69, but opened at $85.50. Aehr Test Systems shares last traded at $85.7410, with a volume of 1,054,546 shares trading hands.

Analyst Upgrades and Downgrades

AEHR has been the subject of a number of research analyst reports. Oppenheimer assumed coverage on Aehr Test Systems in a report on Thursday. They issued an “outperform” rating and a $120.00 price target for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $110.00 target price on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Zacks Research upgraded shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Craig Hallum reissued a “buy” rating and set a $125.00 price target on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Freedom Capital raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Aehr Test Systems currently has an average rating of “Buy” and an average target price of $132.50.

Aehr Test Systems Trading Down 10.9%

The stock has a market capitalization of $2.76 billion, a P/E ratio of -352.56 and a beta of 3.06. The company has a fifty day simple moving average of $91.30 and a two-hundred day simple moving average of $81.16.

Insider Activity at Aehr Test Systems

In other Aehr Test Systems news, EVP Alberto Salamone sold 9,672 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $127.72, for a total value of $1,235,307.84. Following the transaction, the executive vice president directly owned 41,962 shares of the company’s stock, valued at approximately $5,359,386.64. This trade represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rhea J. Posedel sold 5,973 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.00, for a total transaction of $836,220.00. Following the completion of the transaction, the director directly owned 381,989 shares in the company, valued at approximately $53,478,460. The trade was a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 109,475 shares of company stock worth $13,827,160 over the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Advocate Investing Services LLC acquired a new stake in shares of Aehr Test Systems during the second quarter worth $26,000. Nykredit A S acquired a new position in Aehr Test Systems in the second quarter valued at about $28,000. Compagnie Lombard Odier SCmA acquired a new position in Aehr Test Systems in the second quarter valued at about $34,000. KBC Group NV bought a new position in Aehr Test Systems during the first quarter worth about $30,000. Finally, Sunbelt Securities Inc. bought a new position in Aehr Test Systems during the third quarter worth about $27,000. 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.