AEHR · NASDAQ · STOCK
Aehr Test Systems (AEHR) Stock Analysis
$84.61
52W $18.70 – $147.40
54/100
$2.76B
-368.0
3.07
Is AEHR Bullish or Bearish?
Mixed.
Innellis AI committee rates Aehr Test Systems (AEHR) Watch with a composite score of 54/100
, based on 6 analysts with 67% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +5.71 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -14.29 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock — Risk
Bear Case
- Price-to-book of 13.2x prices in significant intangible value — Value
- ROE of only -4.7% -- cheap may mean cheap for a reason — Value
- Revenue declining -15.2% YoY -- this is not a growth story right now — Growth
- MACD histogram negative -- bearish momentum — Technical
- Bollinger bandwidth of 32.7% signals elevated volatility — Risk
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
54/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 80%
of 287 Technology peers
Value Analyst
neutral
43
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
− Price-to-book of 13.2x prices in significant intangible value
Growth Analyst
neutral
50
/ 100 · Moderate confidence
Moderate growth -- present but not remarkable
+ Quarter-over-quarter growth rate is ACCELERATING, not just positive
− Revenue declining -15.2% YoY -- this is not a growth story right now
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
neutral
58
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
+ Low leverage (debt-to-equity 0.00) -- balance sheet can absorb a shock
− Bollinger bandwidth of 32.7% signals elevated volatility
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 55.2 to 54.3.
- Recommendation changed from Buy to Watch.
- New bearish signals: 1 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- Bearish pressure eased: 1 signal(s) disappeared.
Analyst-level changes:
- News Analyst: score 67->62 (-6).
- Risk Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
31.3
Neutral
MACD Histogram
-1.506
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Support
$76.79
Resistance
$126.15
Bollinger %B
0.17
Inside Bands
Price vs Moving Averages
EMA 9
$93.17
Below
EMA 21
$94.66
Below
EMA 50
$94.31
Below
EMA 200
$75.26
Above
Fundamental Analysis
Valuation
33
Growth
89
Profitability
9
Financial Health
100
Cash Flow
15
Valuation
P/E Ratio
-368.0×
P/B Ratio
11.83×
PEG Ratio
4.60
Dividend Yield
0.00%
52W High
$147.40
52W Low
$18.70
Quality & Growth
ROE
-324.6%
ROA
-288.9%
Gross Margin
3466.6%
Operating Margin
-2780.0%
Revenue Growth YoY
—
Debt / Equity
0.04
AI Fundamental Assessment
P/E ratio of -368.0 (inexpensive relative to a 15-40x range); Price-to-book of 11.8x; PEG ratio of 4.6 (under 1.0 suggests growth is undervalued relative to price); Return on equity of -3.2%; Return on assets of -2.9%; Net margin of -14.0%; Gross margin of 34.7%; Current ratio of 10.33 (healthy short-term liquidity); Debt-to-equity of 0.05; Free cash flow per share is negative (-0.18); Most recent quarter beat estimates by 1528.6%; 2 consecutive earnings beats; EPS growth accelerating (-25.0% -> +320.0% QoQ); Analyst estimates rising over recent quarters
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