Aehr Test Systems (NASDAQ:AEHR) Trading Down 4.6% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR)’s share price was down 4.6% during mid-day trading on Wednesday . The stock traded as low as $91.31 and last traded at $91.1920. 347,841 shares were traded during trading, a decline of 86% from the average daily volume of 2,416,925 shares. The stock had previously closed at $95.59.

Analysts Set New Price Targets

AEHR has been the topic of several recent research reports. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Lake Street Capital reiterated a “buy” rating and set a $110.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Zacks Research raised Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Wall Street Zen raised Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Jefferies Financial Group initiated coverage on Aehr Test Systems in a research note on Thursday, August 13th. They issued a “buy” rating and a $175.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $136.67.

Aehr Test Systems Stock Down 0.7%

The company has a market cap of $2.95 billion, a price-to-earnings ratio of -376.90 and a beta of 3.10. The company’s 50-day moving average is $93.13 and its 200 day moving average is $76.85.

Insider Activity

In other news, Director Rhea J. Posedel sold 5,973 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.00, for a total transaction of $836,220.00. Following the sale, the director directly owned 381,989 shares in the company, valued at $53,478,460. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Howard T. Slayen sold 5,700 shares of Aehr Test Systems stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $133.03, for a total value of $758,271.00. Following the completion of the transaction, the director owned 140,667 shares of the company’s stock, valued at approximately $18,712,931.01. This represents a 3.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 109,475 shares of company stock worth $13,827,160. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Aehr Test Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Aehr Test Systems during the 4th quarter valued at approximately $25,000. Advocate Investing Services LLC purchased a new stake in Aehr Test Systems in the 2nd quarter worth $26,000. Sunbelt Securities Inc. purchased a new stake in Aehr Test Systems in the 3rd quarter worth $27,000. Nykredit A S acquired a new position in Aehr Test Systems during the second quarter worth $28,000. Finally, State of Wyoming acquired a new position in Aehr Test Systems during the second quarter worth $28,000. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

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.