Aehr Test Systems (NASDAQ:AEHR) Stock Price Down 6.5% – Here’s What Happened

Aehr Test Systems (NASDAQ:AEHR) was down 6.5% during mid-day trading on Monday . The company traded as low as $22.60 and last traded at $23.1260. Approximately 343,624 shares changed hands during trading, a decline of 73% from the average daily volume of 1,282,259 shares. The stock had previously closed at $24.74.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Aehr Test Systems from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Craig Hallum downgraded Aehr Test Systems from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Aehr Test Systems in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Sell” and an average target price of $24.00.

Aehr Test Systems Trading Down 4.5%

The firm’s fifty day moving average price is $24.94 and its 200 day moving average price is $20.58. The stock has a market capitalization of $708.96 million, a price-to-earnings ratio of -107.41 and a beta of 2.41.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Aehr Test Systems

Several institutional investors have recently bought and sold shares of AEHR. Sunbelt Securities Inc. purchased a new position in shares of Aehr Test Systems during the 3rd quarter worth approximately $27,000. Jones Financial Companies Lllp boosted its stake in shares of Aehr Test Systems by 3,448.3% in the third quarter. Jones Financial Companies Lllp now owns 1,029 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 1,000 shares in the last quarter. RiverPark Advisors LLC acquired a new position in Aehr Test Systems during the third quarter worth $42,000. State of Wyoming acquired a new position in Aehr Test Systems during the second quarter worth $28,000. Finally, Russell Investments Group Ltd. raised its position in Aehr Test Systems by 3,500.0% in the third quarter. Russell Investments Group Ltd. now owns 2,448 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 2,380 shares in the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

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.