Zacks Investment Research Lowers Aerohive Networks (HIVE) to Sell

Zacks Investment Research lowered shares of Aerohive Networks (NYSE:HIVE) from a hold rating to a sell rating in a research report released on Wednesday.

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 research analysts also recently issued research reports about the stock. Dougherty & Co downgraded shares of Aerohive Networks from a buy rating to a neutral rating in a research report on Wednesday, January 17th. ValuEngine downgraded shares of Aerohive Networks from a sell rating to a strong sell rating in a research report on Wednesday, March 28th. Finally, Pi Financial lowered their price objective on shares of Aerohive Networks from $5.25 to $4.50 in a research report on Friday, March 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $5.85.



Shares of Aerohive Networks stock opened at $3.91 on Wednesday. Aerohive Networks has a twelve month low of $3.02 and a twelve month high of $6.50. The company has a quick ratio of 1.99, a current ratio of 2.24 and a debt-to-equity ratio of 0.91.

Aerohive Networks (NYSE:HIVE) last issued 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 for 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 94.14%. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. analysts expect that Aerohive Networks will post -0.31 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Aerohive Networks by 31.8% in the second quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after acquiring an additional 7,258 shares during the period. California State Teachers Retirement System raised its position in Aerohive Networks by 15.3% in the second quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock worth $278,000 after acquiring an additional 7,400 shares during the period. Wells Fargo & Company MN raised its position in Aerohive Networks by 66.6% in the third quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock worth $142,000 after acquiring an additional 13,865 shares during the period. Worth Venture Partners LLC raised its position in Aerohive Networks by 8.9% in the fourth quarter. Worth Venture Partners LLC now owns 181,836 shares of the communications equipment provider’s stock worth $1,060,000 after acquiring an additional 14,915 shares during the period. Finally, Koch Industries Inc. bought a new position in Aerohive Networks in the fourth quarter worth approximately $122,000. Institutional investors and hedge funds own 46.75% of the company’s stock.

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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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