TLDR
- AEHR dropped 9.1% to $132.37 on Tuesday, with trading volume down 79% from its average
- The stock has a consensus “Buy” rating and a $136.67 average price target
- Jefferies initiated coverage this week with a “Buy” rating and a $175 price target
- Insiders sold 109,475 shares worth $13.8 million over the past 90 days
- Institutional investors, including Vanguard and UBS, own roughly 69.7% of the company
Aehr Test Systems (AEHR) dropped 9.1% on Tuesday, hitting $132.37 in mid-day trading. The stock had closed the previous session at $145.61.
Volume was notably thin. Only around 520,330 shares changed hands, a 79% drop from the average daily volume of 2,424,321.
The 12-month range tells the story of a stock that has moved fast. AEHR hit a low of $16.38 over the past year and a high of $147.40, reached just recently.
The company carries a market cap of around $4.03 billion at current prices. Its P/E ratio sits at -519.12, and the stock has a beta of 3.10, reflecting its history of sharp swings.
Analyst Outlook Remains Positive
Despite the drop, Wall Street’s view on AEHR is broadly constructive. The stock holds an average “Buy” rating from analysts, with a consensus price target of $136.67.
Jefferies initiated coverage this week with a “Buy” rating and a price target of $175. That is one of the more bullish calls on the street right now.
Freedom Capital and Zacks Research both upgraded AEHR to “Strong Buy” in July. Wall Street Zen moved from “Sell” to “Hold” around the same time.
Craig Hallum reaffirmed its “Buy” rating in July with a $125 price target. Weiss Ratings moved in the opposite direction, downgrading from “Sell (D)” to “Sell (E+)” at the end of July.
Of the seven analysts tracked, two have “Strong Buy” ratings, four have “Buy” ratings, and one has a “Sell.”
Insider Selling Draws Attention
The insider activity is hard to ignore. Over the past 90 days, insiders sold a combined 109,475 shares worth $13.8 million.
COO Adil Engineer sold 15,000 shares on August 12 at an average price of $131.02, totaling $1.97 million. That sale cut his position by 24.2%.
EVP Alberto Salamone sold 9,672 shares on August 13 at $127.72, bringing in roughly $1.24 million. His stake fell by 18.7%.
Director Howard T. Slayen sold 20,000 shares on August 4 at $108.30, a transaction worth $2.17 million. He trimmed his position by around 12%.
Insiders now own 6.8% of the company in total.
On the institutional side, Royal Bank of Canada increased its stake by 15.3% in the first quarter, adding 7,968 shares to bring its total to 59,939. Vanguard lifted its position by 2.2%, while UBS boosted its holdings by 55.7%. Institutional investors collectively own 69.69% of the company.
The 50-day moving average stands at $93.83 and the 200-day moving average at $72.59, both well below the current price.
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