Aehr Test Systems (NASDAQ:AEHR) is scaling the Nasdaq today, last seen up 44% to trade at $100.82. The semiconductor supplier reported adjusted fiscal fourth-quarter profit of 11 cents per share on $18.8 million in revenue, both of which blew past analyst expectations. The demand for wafer and burn-in solutions has risen with growing need for AI processors ands silicon photonics.
AEHR is on track for its best single-session gain since July 2021. The shares are now up 420% in 2026, bouncing off their 126-day moving average and looking to make another run at their June 15 record high of $126.62.
A short squeeze could help the stock there. Short interest is up in the most recent reporting period, and the 4.16 million shares sold short accounts for 14% of AEHR's total available float.
Options are flying off the shelves this morning. At last look, roughly 26,000 contracts have changed hands already, volume that's 14 times the average intraday amount. The July 95 put is leading the charge.
Options are an intriguing route, per AEHR's Schaeffer's Volatility Scorecard (SVS) of 83 out of 100. In other words, the shares have consistently realized higher volatility than its options have priced in over the past 12 months.
