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

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened 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 changing hands.

Wall Street Analyst Weigh In

AEHR has been the subject of several research reports. Weiss Ratings lowered shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Jefferies Financial Group began coverage on shares of Aehr Test Systems in a report on Thursday, August 13th. They issued a “buy” rating and a $175.00 price objective for the company. Lake Street Capital reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Aehr Test Systems in a research report on Wednesday, July 15th. Finally, Craig Hallum reiterated a “buy” rating and set a $125.00 target price on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $132.50.

Aehr Test Systems Price Performance

The company has a market capitalization of $2.66 billion, a PE ratio of -339.90 and a beta of 3.06. The company has a 50-day moving average of $91.82 and a two-hundred day moving average of $81.75.

Insider Activity

In related news, CEO Gayn Erickson sold 40,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 157,723 shares in the company, valued at approximately $20,636,477.32. The trade was a 20.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rhea Posedel sold 8,413 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,093,690.00. Following the completion of the sale, the director directly owned 387,962 shares of the company’s stock, valued at $50,435,060. This represents a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 109,475 shares of company stock worth $13,827,160. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Aehr Test Systems

Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of Aehr Test Systems by 3.2% in the 2nd quarter. Arizona State Retirement System now owns 8,245 shares of the semiconductor company’s stock worth $792,000 after buying an additional 253 shares during the last quarter. Advocate Investing Services LLC bought a new position in shares of Aehr Test Systems in the 2nd quarter valued at about $26,000. Nykredit A S bought a new position in shares of Aehr Test Systems in the 2nd quarter valued at about $28,000. Compagnie Lombard Odier SCmA purchased a new position in Aehr Test Systems in the second quarter worth about $34,000. Finally, KBC Group NV purchased a new position in Aehr Test Systems in the first quarter worth about $30,000. 69.69% of the stock is currently owned by institutional investors.

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.