Aerohive Networks (NYSE:HIVE) has earned an average rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.13.
A number of brokerages recently weighed in on HIVE. Zacks Investment Research downgraded Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Pi Financial lowered their target price on Aerohive Networks from $5.25 to $4.50 in a report on Friday, March 2nd. ValuEngine lowered Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 28th. Finally, Dougherty & Co lowered Aerohive Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 17th.
Several large investors have recently made changes to their positions in HIVE. Koch Industries Inc. acquired a new stake in Aerohive Networks in the 4th quarter valued at $122,000. Susquehanna International Group LLP acquired a new stake in Aerohive Networks in the 3rd quarter valued at $112,000. The Manufacturers Life Insurance Company boosted its stake in Aerohive Networks by 1,309.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,139 shares of the communications equipment provider’s stock valued at $164,000 after buying an additional 26,143 shares in the last quarter. Wells Fargo & Company MN boosted its stake 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 in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Aerohive Networks in the 4th quarter valued at $215,000. 46.75% of the stock is currently owned by institutional investors.
Shares of HIVE traded down $0.05 during trading hours on Friday, reaching $4.15. 40,776 shares of the company’s stock traded hands, compared to its average volume of 409,928. Aerohive Networks has a twelve month low of $3.02 and a twelve month high of $6.50. The firm has a market capitalization of $215.64, a price-to-earnings ratio of -10.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.99 and a current ratio of 2.24.
Aerohive Networks (NYSE:HIVE) last announced its earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter. Aerohive Networks had a negative net margin of 14.99% and a negative return on equity of 94.14%. The firm had revenue of $37.20 million for the quarter, compared to the consensus estimate of $37.04 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s quarterly revenue was down 10.8% compared to the same quarter last year. analysts forecast that Aerohive Networks will post -0.31 EPS for the current fiscal year.
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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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