Aehr Test Systems (NASDAQ:AEHR) Stock Extends Rally: Here is Why

At this point in time, companies related to the semiconductor industry are enjoying considerably focus due to the global shortage of semiconductors. One of the companies that investors could consider looking into at this point in time is that of Aehr Test Systems (NASDAQ:AEHR).

The company is based out of California and is involved in making equipment meant for semiconductor testing. In addition to that, it has also been involved in developing a range of robust systems that are meant for testing wafers. However, it is semiconductor testing equipment that is currently in high demand across the world and that has possibly brought the Aehr stock into focus among many investors.

This past Friday, the stock came into sharp focus among investors and ended up clocking gains of as much as 21%. Additionally, the company announced its financial results for the fourth quarter and investors seemed to have been impressed with the numbers. The net sales came in at $16.6 million for the fiscal year ended on May 31, 2021 and that was lower than the $22.3 million generated in the previous year. However, the fourth quarter net sales stood at $7.6 million and that represents a surge of 102% year on year.

Market Reaction:

On Friday, AEHR stock soared 21% at $3.40 with more than 78.22 million shares, compared to its average volume of 1.66 million shares. The stock has moved within a range of $3.0800 – 3.8000 after opening the trade at $3.17. Over the past 52-week, the stock has been trading within a range of $1.1500 – 3.8000.