Aehr Test Systems (NASDAQ:AEHR) Stock Crosses Above 200 Day Moving Average – Here’s Why

Aehr Test Systems (NASDAQ:AEHR)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.80 and traded as high as $23.16. Aehr Test Systems shares last traded at $22.89, with a volume of 722,736 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Craig Hallum lowered 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Aehr Test Systems in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Aehr Test Systems from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $24.00.

Aehr Test Systems Stock Performance

The firm has a fifty day moving average price of $25.87 and a 200 day moving average price of $19.80. The stock has a market cap of $686.86 million, a PE ratio of -104.05 and a beta of 2.41.

Aehr Test Systems (NASDAQ:AEHR) last posted its quarterly earnings data on Monday, October 6th. The semiconductor company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $11.00 million during the quarter, compared to the consensus estimate of $13.69 million. Aehr Test Systems had a negative net margin of 11.71% and a negative return on equity of 2.41%. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts forecast that Aehr Test Systems will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Fariba Danesh sold 9,000 shares of the firm’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $24.79, for a total value of $223,110.00. Following the transaction, the director directly owned 16,643 shares of the company’s stock, valued at approximately $412,579.97. This trade represents a 35.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Howard T. Slayen sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $25.73, for a total value of $154,380.00. Following the transaction, the director directly owned 218,328 shares in the company, valued at $5,617,579.44. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. State of Wyoming grew its position in Aehr Test Systems by 26.7% in the 3rd quarter. State of Wyoming now owns 2,777 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 586 shares in the last quarter. CWM LLC raised its stake in Aehr Test Systems by 15.1% in the second quarter. CWM LLC now owns 6,062 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 793 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Aehr Test Systems during the third quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its position in shares of Aehr Test Systems by 3,448.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Aehr Test Systems by 7.9% in the second quarter. JPMorgan Chase & Co. now owns 15,576 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 1,145 shares in the last quarter. Hedge funds and other 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.