Aehr Test Systems (AEHR) saw its stock plummet 5.51% intraday on Friday, following the release of its fiscal Q2 earnings report, which revealed a significant revenue miss and a swing to a net loss.

The semiconductor test supplier reported Q2 revenue of $9.88 million, falling short of the $11.59 million analyst consensus estimate. The company also posted a net loss of $3.23 million, compared to a loss of $1 million in the same period last year. Investors reacted negatively to the weaker-than-expected results, as well as the company's cautious outlook for the second half of fiscal 2026.

Adding to the downward pressure, Craig-Hallum lowered its price target on Aehr Test Systems to $21 from $24, maintaining a Hold rating. The combination of disappointing earnings and reduced price target contributed to the stock's sharp decline.