Aehr Test Systems (NASDAQ:AEHR) Shares Up 12.2% - Here's What Happened

Key Points

• Shares of Aehr Test Systems increased by 12.2% on Monday, trading as high as $27.39 with a last trade at $27.78, despite a 76% decline in trading volume compared to its average.
• Equities analysts have downgraded Aehr Test Systems, with Zacks Research issuing a "strong sell" rating and the average price target set at $24.00.
• The company's latest quarterly earnings reported $0.01 earnings per share, matching estimates but falling short of expected revenue of $13.69 million as actual revenue was only $11.00 million.

Shares of Aehr Test Systems (NASDAQ:AEHR - Get Free Report) rose 12.2% on Monday . The company traded as high as $27.39 and last traded at $27.78. Approximately 313,197 shares were traded during trading, a decline of 76% from the average daily volume of 1,325,966 shares. The stock had previously closed at $24.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Aehr Test Systems from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Aehr Test Systems in a research report on Wednesday, October 8th. Finally, Craig Hallum lowered shares of Aehr Test Systems from a "buy" rating to a "hold" rating and set a $24.00 price objective for the company. in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Aehr Test Systems has a consensus rating of "Sell" and an average price target of $24.00.

Aehr Test Systems Stock Up 16.3%

The business's 50-day simple moving average is $25.95 and its two-hundred day simple moving average is $16.78. The stock has a market cap of $864.29 million, a P/E ratio of -130.91 and a beta of 2.47.

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

Insiders Place Their Bets

In other Aehr Test Systems news, Director Laura Oliphant sold 5,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $21.50, for a total transaction of $107,500.00. Following the completion of the sale, the director directly owned 7,665 shares in the company, valued at approximately $164,797.50. The trade was a 39.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rhea J. Posedel sold 18,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $19.83, for a total value of $356,940.00. Following the completion of the sale, the director owned 71,163 shares of the company's stock, valued at approximately $1,411,162.29. The trade was a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,000 shares of company stock worth $687,550. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Aehr Test Systems

Institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new position in Aehr Test Systems during the 2nd quarter valued at about $28,000. Quantbot Technologies LP purchased a new stake in Aehr Test Systems during the first quarter valued at approximately $31,000. GAMMA Investing LLC raised its stake in Aehr Test Systems by 1,753.1% in the first quarter. GAMMA Investing LLC now owns 7,079 shares of the semiconductor company's stock valued at $52,000 after buying an additional 6,697 shares during the last quarter. CWM LLC boosted its stake in Aehr Test Systems by 15.1% in the 2nd quarter. CWM LLC now owns 6,062 shares of the semiconductor company's stock worth $78,000 after purchasing an additional 793 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in Aehr Test Systems during the 1st quarter valued at about $86,000. Institutional investors own 69.69% of the company's stock.

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.

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