Aerohive Networks (NYSE:HIVE) released its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, Briefing.com reports. The firm had revenue of $37.20 million for the quarter, compared to analyst estimates of $37.04 million. Aerohive Networks had a negative net margin of 14.99% and a negative return on equity of 92.83%. The firm’s revenue was down 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS.
Aerohive Networks (NYSE HIVE) traded up $0.03 during trading hours on Friday, reaching $4.38. 387,004 shares of the company traded hands, compared to its average volume of 528,650. The firm has a market cap of $246.02, a PE ratio of -10.19 and a beta of 1.29. Aerohive Networks has a 1 year low of $3.02 and a 1 year high of $6.50. The company has a current ratio of 2.19, a quick ratio of 1.95 and a debt-to-equity ratio of 0.94.
HIVE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Dougherty & Co downgraded shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Finally, ValuEngine raised shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.25.
A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Aerohive Networks by 15.8% during the 2nd quarter. State Street Corp now owns 379,843 shares of the communications equipment provider’s stock valued at $1,902,000 after purchasing an additional 51,774 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Aerohive Networks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock valued at $278,000 after buying an additional 7,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 43.60% of the company’s stock.
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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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