Why Aehr Test Systems Stock Zoomed 24% Higher Today
Aehr Test Systems (NASDAQ: AEHR), a once-obscure stock that has become noticed by many investors thanks to its connection with the electric vehicle (EV) industry, had quite the trading session on Friday. Thanks to encouraging quarterly results, the company's shares shot almost 24% higher on the day.
After market hours Thursday, Aehr unveiled the figures for its first quarter of fiscal 2023. These revealed that the company booked $10.7 million in sales for the period, up a very robust 89% compared to the same quarter last year. On the bottom line, Aehr flipped to a non-GAAP (adjusted) net profit of just under $1.3 million, or $0.05 per share, from the year-ago loss of $414,000.
Both headline numbers pounded analyst estimates into the dust. On average, prognosticators following the stock were anticipating a top-line figure of $5.12 million, and an adjusted loss of $0.03 per share.
Source Fool.com
