Aehr Test Systems (NASDAQ: AEHR), which makes semiconductor test and reliability qualification equipment, released its fiscal fourth-quarter 2023 report last Thursday. Investors liked the report, driving shares up 18.2% on Friday and up another 6.6% on Monday.

Revenue for the quarter ended May 31 grew 10% year over year to $22.3 million. Adjusted net income was $6.8 million, or $0.23 per share, flat with the year-ago period. The top line met Wall Street's consensus estimate, while the bottom line exceeded it.

Along with the earnings beat, another likely catalyst behind investors' enthusiasm was management's upbeat comments on the earnings call about the company's long-term growth potential. In addition, a chunk of the stock's post-earnings release gain was likely due to covering by short-sellers, as the stock has a sizable short interest. (Short-sellers are those who are betting that a stock's price will fall.)

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Source Fool.com