Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Should You Sell?

Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened on Thursday . The stock had previously closed at $129.23, but opened at $123.01. Aehr Test Systems shares last traded at $120.5230, with a volume of 859,938 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AEHR shares. 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. Freedom Capital upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Craig Hallum reaffirmed a “buy” rating and set a $125.00 price objective on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aehr Test Systems has an average rating of “Buy” and a consensus price target of $117.50.

Aehr Test Systems Stock Down 0.6%

The company has a market cap of $4.19 billion, a PE ratio of -534.27 and a beta of 3.10. The business has a 50-day simple moving average of $91.98 and a 200-day simple moving average of $70.33.

Insider Transactions at Aehr Test Systems

In related news, Director Howard T. Slayen sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the completion of the transaction, the director owned 146,367 shares in the company, valued at $15,851,546.10. This represents a 12.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alistair N. Sporck sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $108.49, for a total transaction of $108,490.00. Following the completion of the transaction, the vice president directly owned 22,547 shares in the company, valued at $2,446,124.03. This represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,000 shares of company stock valued at $2,476,410 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Aehr Test Systems

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in Aehr Test Systems in the 4th quarter valued at $25,000. Advocate Investing Services LLC acquired a new stake in shares of Aehr Test Systems in the second quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems in the third quarter valued at about $27,000. State of Wyoming purchased a new position in shares of Aehr Test Systems in the second quarter worth about $28,000. Finally, KBC Group NV purchased a new position in shares of Aehr Test Systems in the first quarter worth about $30,000. 69.69% of the stock is owned by institutional investors and hedge funds.

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.