Aehr Test Systems (NASDAQ:AEHR) Stock Price Down 6.4% – Here’s Why

Aehr Test Systems (NASDAQ:AEHR)’s share price traded down 6.4% during trading on Thursday . The stock traded as low as $75.40 and last traded at $75.0970. 520,227 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,413,033 shares. The stock had previously closed at $80.24.

Analysts Set New Price Targets

A number of research firms have recently commented on AEHR. Craig Hallum reissued a “buy” rating and issued a $125.00 target price on shares of Aehr Test Systems in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Aehr Test Systems from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Freedom Capital raised shares of Aehr Test Systems from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Jefferies Financial Group began coverage on shares of Aehr Test Systems in a research note on Thursday, August 13th. They set a “buy” rating and a $175.00 price objective for the company. Finally, Weiss Ratings cut shares of Aehr Test Systems from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $136.67.

Aehr Test Systems Trading Up 13.1%

The firm has a 50 day simple moving average of $90.39 and a 200 day simple moving average of $78.66. The firm has a market capitalization of $2.81 billion, a PE ratio of -359.40 and a beta of 3.06.

Insider Activity

In other news, Director Howard Slayen sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $108.30, for a total transaction of $2,166,000.00. Following the transaction, the director directly owned 146,367 shares of the company’s stock, valued at $15,851,546.10. This represents a 12.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rhea Posedel sold 8,413 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.00, for a total value of $1,093,690.00. Following the sale, the director directly owned 387,962 shares in the company, valued at $50,435,060. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 109,475 shares of company stock valued at $13,827,160. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

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

Aehr Test Systems Company Profile

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.