Dougherty & Co downgraded shares of Aerohive Networks (NYSE:HIVE) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat Ratings reports.
A number of other equities research analysts have also recently commented on HIVE. ValuEngine upgraded Aerohive Networks from a strong sell rating to a sell rating in a research note on Monday, October 2nd. Zacks Investment Research cut Aerohive Networks from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Finally, Craig Hallum assumed coverage on Aerohive Networks in a research note on Tuesday, October 17th. They issued a buy rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Aerohive Networks has a consensus rating of Hold and an average price target of $6.05.
Aerohive Networks (HIVE) traded up $0.11 during trading on Wednesday, reaching $4.17. The company’s stock had a trading volume of 623,903 shares, compared to its average volume of 670,080. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.95 and a current ratio of 2.19. Aerohive Networks has a 52 week low of $3.02 and a 52 week high of $6.50. The stock has a market capitalization of $229.56, a PE ratio of -8.18 and a beta of 1.79.
Aerohive Networks (NYSE:HIVE) last released its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $37.07 million during the quarter, compared to analysts’ expectations of $38.41 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. equities research analysts predict that Aerohive Networks will post -0.44 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of Aerohive Networks by 23.8% in the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after purchasing an additional 6,061 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Aerohive Networks by 31.8% in the second quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock valued at $150,000 after purchasing an additional 7,258 shares during the period. California State Teachers Retirement System increased its holdings in shares of Aerohive Networks by 15.3% in the second quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock valued at $278,000 after purchasing an additional 7,400 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Aerohive Networks by 66.6% in the third quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after purchasing an additional 13,865 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Aerohive Networks by 18.5% in the second quarter. Bank of New York Mellon Corp now owns 103,384 shares of the communications equipment provider’s stock valued at $517,000 after purchasing an additional 16,162 shares during the period. 46.13% of the stock is currently 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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