Zacks Investment Research lowered shares of Aerohive Networks (NYSE:HIVE) from a hold rating to a sell rating in a research report released on Thursday.
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. “
Several other analysts have also weighed in on HIVE. Dougherty & Co lowered shares of Aerohive Networks from a buy rating to a neutral rating in a research note on Wednesday, January 17th. ValuEngine upgraded shares of Aerohive Networks from a strong sell rating to a sell rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Aerohive Networks has an average rating of Hold and an average target price of $6.25.
Shares of Aerohive Networks (NYSE HIVE) opened at $4.38 on Thursday. 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 one year low of $3.02 and a one year high of $6.50.
Aerohive Networks (NYSE:HIVE) last released its quarterly earnings data on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter. The company had revenue of $37.20 million during the quarter, compared to the consensus estimate of $37.04 million. Aerohive Networks had a negative net margin of 14.99% and a negative return on equity of 92.83%. The business’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. research analysts expect that Aerohive Networks will post -0.31 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in Aerohive Networks in the 4th quarter valued at $215,000. Millennium Management LLC grew its position in Aerohive Networks by 307.9% in the 4th quarter. Millennium Management LLC now owns 2,060,321 shares of the communications equipment provider’s stock valued at $12,012,000 after purchasing an additional 1,555,157 shares during the period. TIAA CREF Investment Management LLC grew its position in Aerohive Networks by 32.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 230,111 shares of the communications equipment provider’s stock valued at $1,342,000 after purchasing an additional 55,985 shares during the period. Two Sigma Investments LP acquired a new stake in Aerohive Networks in the 4th quarter valued at $2,084,000. Finally, Two Sigma Advisers LP acquired a new stake in Aerohive Networks in the 4th quarter valued at $356,000. 43.60% of the stock is owned by institutional investors and hedge funds.
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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