Shares of Aerohive Networks Inc (NYSE:HIVE) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.31.
A number of brokerages have recently weighed in on HIVE. Zacks Investment Research raised Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday, November 8th. Craig Hallum began coverage on Aerohive Networks in a research report on Tuesday, October 17th. They set a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine raised Aerohive Networks from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th.
Aerohive Networks (HIVE) opened at $5.94 on Friday. Aerohive Networks has a 12 month low of $3.02 and a 12 month high of $6.50. The company has a quick ratio of 1.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $318.38, a P/E ratio of -11.65 and a beta of 1.79.
Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative return on equity of 103.45% and a negative net margin of 17.00%. The firm had revenue of $37.07 million for the quarter, compared to analyst estimates of $38.41 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. equities research analysts anticipate that Aerohive Networks will post -0.43 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP purchased a new stake in Aerohive Networks in the 3rd quarter valued at $112,000. Wells Fargo & Company MN raised its position in Aerohive Networks by 66.6% in the 3rd quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after buying an additional 13,865 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Aerohive Networks by 31.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock valued at $150,000 after buying an additional 7,258 shares during the last quarter. Rhumbline Advisers raised its position in Aerohive Networks by 23.8% in the 2nd quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 6,061 shares during the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in Aerohive Networks in the 2nd quarter valued at $161,000. 46.13% of the stock is owned by institutional investors and hedge funds.
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Aerohive Networks Company Profile
Aerohive Networks, Inc together with its subsidiaries, has designed and developed a cloud-managed mobile networking platform that enables enterprises to deploy and manage a mobile-centric network edge. Its portfolio of products and solutions is built around sets of technologies and solutions, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.
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