Aehr Test Systems (NASDAQ:AEHR) Shares Up 6.2% – Should You Buy?

Aehr Test Systems (NASDAQ:AEHR)’s share price shot up 6.2% on Wednesday . The stock traded as high as $23.85 and last traded at $23.8550. 98,625 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,290,508 shares. The stock had previously closed at $22.46.

Wall Street Analysts Forecast Growth

AEHR has been the subject of a number of research analyst reports. Craig Hallum cut Aehr Test Systems from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research report on Tuesday, October 7th. Zacks Research lowered shares of Aehr Test Systems from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Aehr Test Systems in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $24.00.

Aehr Test Systems Stock Up 3.0%

The company has a market cap of $765.26 million, a price-to-earnings ratio of -115.91 and a beta of 2.40. The business has a fifty day simple moving average of $25.05 and a 200 day simple moving average of $20.30.

Aehr Test Systems (NASDAQ:AEHR) last announced its quarterly earnings results on Monday, October 6th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Aehr Test Systems had a negative net margin of 11.71% and a negative return on equity of 2.41%. The business had revenue of $11.00 million during the quarter, compared to the consensus estimate of $13.69 million. During the same quarter last year, the firm posted $0.07 EPS. Equities analysts anticipate that Aehr Test Systems will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Howard T. Slayen sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $25.73, for a total transaction of $154,380.00. Following the sale, the director owned 218,328 shares of the company’s stock, valued at $5,617,579.44. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fariba Danesh sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $24.79, for a total value of $223,110.00. Following the completion of the sale, the director owned 16,643 shares in the company, valued at approximately $412,579.97. This represents a 35.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aehr Test Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new stake in Aehr Test Systems in the 3rd quarter valued at about $27,000. Harvest Investment Services LLC purchased a new stake in shares of Aehr Test Systems in the third quarter valued at about $815,000. NewEdge Advisors LLC grew its position in shares of Aehr Test Systems by 35,364.4% in the third quarter. NewEdge Advisors LLC now owns 15,959 shares of the semiconductor company’s stock valued at $481,000 after purchasing an additional 15,914 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Aehr Test Systems by 61.8% during the 3rd quarter. XTX Topco Ltd now owns 22,328 shares of the semiconductor company’s stock worth $672,000 after purchasing an additional 8,531 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Aehr Test Systems by 250.7% during the 3rd quarter. Verition Fund Management LLC now owns 40,897 shares of the semiconductor company’s stock worth $1,231,000 after purchasing an additional 29,237 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

Aehr Test Systems Company Profile

Aehr Test Systems provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, and package part form, and installed systems worldwide. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices.