Aehr Test Systems downgraded to Hold from Buy at Craig-Hallum

Craig-Hallum analyst Christian Schwab downgraded Aehr Test Systems (AEHR) to Hold from Buy with a price target of $24, up from $16. Since the company last reported, the stock price has made a material move based on management’s enthusiasm for AI opportunities, but the company has not announced any new material AI customer orders or new customer wins, the analyst tells investors. The firm calls Aehr “a speculative open-ended potential growth story stock,” noting that a few years ago it was based on silicon carbide and now it is based on AI opportunities and adding that it expects shares to be “very volatile.”