Aehr Test Systems (NASDAQ:AEHR) Shares Gap Down – Time to Sell?

Shares of Aehr Test Systems (NASDAQ:AEHR) gapped down before the market opened on Wednesday . The stock had previously closed at $96.06, but opened at $90.27. Aehr Test Systems shares last traded at $91.3650, with a volume of 179,781 shares trading hands.

Analyst Ratings Changes

AEHR has been the subject of several research analyst reports. Weiss Ratings raised Aehr Test Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen raised Aehr Test Systems from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Lake Street Capital reiterated a “buy” rating on shares of Aehr Test Systems in a report on Wednesday, April 8th. Finally, Craig Hallum raised Aehr Test Systems from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Wednesday, April 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Aehr Test Systems Trading Down 8.4%

The firm’s fifty day moving average price is $98.48 and its 200-day moving average price is $57.06. The company has a market cap of $2.77 billion, a P/E ratio of -231.20 and a beta of 3.17.

Aehr Test Systems (NASDAQ:AEHR) last released its earnings results on Tuesday, April 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. Aehr Test Systems had a negative net margin of 25.23% and a negative return on equity of 7.15%. The business had revenue of $10.31 million during the quarter, compared to analysts’ expectations of $10.85 million. As a group, research analysts forecast that Aehr Test Systems will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Aehr Test Systems

In other news, Director Rhea J. Posedel sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. Following the sale, the director directly owned 426,979 shares in the company, valued at approximately $29,888,530. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Howard T. Slayen sold 25,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $85.00, for a total value of $2,125,000.00. Following the completion of the transaction, the director owned 178,328 shares of the company’s stock, valued at $15,157,880. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 375,005 shares of company stock worth $28,656,178. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aehr Test Systems

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Aehr Test Systems in the 4th quarter valued at $25,000. Sunbelt Securities Inc. acquired a new stake in shares of Aehr Test Systems during the 3rd quarter valued at about $27,000. State of Wyoming acquired a new stake in shares of Aehr Test Systems during the 2nd quarter valued at about $28,000. KBC Group NV bought a new stake in Aehr Test Systems in the first quarter valued at about $30,000. Finally, RiverPark Advisors LLC bought a new stake in Aehr Test Systems in the third quarter valued at about $42,000. Institutional investors and hedge funds own 69.69% of the company’s stock.

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.