Aerohive Networks, Inc. (NYSE:HIVE) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, November 10th.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, November 8th. Craig Hallum began coverage on shares of Aerohive Networks in a report on Tuesday, October 17th. They set a “buy” rating and a $6.00 price target for the company. Finally, BidaskClub cut shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.05.
Shares of Aerohive Networks (HIVE) opened at $5.13 on Friday. Aerohive Networks has a fifty-two week low of $3.02 and a fifty-two week high of $6.14. The company has a quick ratio of 1.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.94.
Aerohive Networks (NYSE:HIVE) last released its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The company had revenue of $37.07 million during the quarter, compared to analysts’ expectations of $38.41 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. analysts forecast that Aerohive Networks will post -0.43 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of Aerohive Networks in the third quarter valued at about $112,000. Sterling Capital Management LLC bought a new stake in shares of Aerohive Networks in the third quarter valued at about $638,000. Granahan Investment Management Inc. MA lifted its stake in shares of Aerohive Networks by 10.4% in the third quarter. Granahan Investment Management Inc. MA now owns 1,213,714 shares of the communications equipment provider’s stock valued at $4,964,000 after buying an additional 114,355 shares during the period. Yiheng Capital LLC lifted its stake in shares of Aerohive Networks by 56.9% in the third quarter. Yiheng Capital LLC now owns 1,863,083 shares of the communications equipment provider’s stock valued at $7,620,000 after buying an additional 675,814 shares during the period. Finally, Royce & Associates LP bought a new stake in shares of Aerohive Networks in the third quarter valued at about $4,116,000. Institutional investors and hedge funds own 47.20% of the company’s stock.
About Aerohive Networks
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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