Aerohive Networks (HIVE) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Aerohive Networks (NYSE:HIVE) from a buy rating to a hold rating in a report published on Wednesday, January 3rd.

According to Zacks, “Aerohive Networks Inc. designs and develops a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s cloud-managed mobile networking platform consists of four components: Cloud Services Platform, HiveOS operating system, client management software and its portfolio of hardware products. It serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States. Aerohive Networks, Inc. is headquartered in Sunnyvale, California. “

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of Aerohive Networks from a strong sell rating to a sell rating in a research report on Friday, November 10th. Craig Hallum assumed coverage on Aerohive Networks in a report on Tuesday, October 17th. They set a buy rating and a $6.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $6.05.

Shares of Aerohive Networks (NYSE HIVE) traded up $0.19 during trading on Wednesday, reaching $5.95. 762,300 shares of the company’s stock traded hands, compared to its average volume of 368,587. The stock has a market capitalization of $315.16, a price-to-earnings ratio of -11.67 and a beta of 1.79. Aerohive Networks has a one year low of $3.02 and a one year high of $6.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.19 and a quick ratio of 1.95.

Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $37.07 million for the quarter, compared to analyst estimates of $38.41 million. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. sell-side analysts predict that Aerohive Networks will post -0.43 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of HIVE. Boston Partners lifted its holdings in Aerohive Networks by 25.8% in the third quarter. Boston Partners now owns 3,130,549 shares of the communications equipment provider’s stock valued at $12,804,000 after acquiring an additional 641,667 shares during the period. Yiheng Capital LLC raised its stake in shares of Aerohive Networks by 56.9% during the 3rd quarter. Yiheng Capital LLC now owns 1,863,083 shares of the communications equipment provider’s stock worth $7,620,000 after buying an additional 675,814 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Aerohive Networks by 51.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,601,790 shares of the communications equipment provider’s stock worth $6,551,000 after buying an additional 544,890 shares during the last quarter. Granahan Investment Management Inc. MA raised its stake in shares of Aerohive Networks by 10.4% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,213,714 shares of the communications equipment provider’s stock worth $4,964,000 after buying an additional 114,355 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Aerohive Networks by 18.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,137,451 shares of the communications equipment provider’s stock worth $5,687,000 after buying an additional 180,794 shares during the last quarter. 46.13% of the stock is owned by hedge funds and other institutional investors.

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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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