Buckingham Research lowered shares of Aerohive Networks Inc. (NYSE:HIVE) from a buy rating to a neutral rating in a report released on Friday morning. The firm currently has $5.00 price objective on the stock, down from their prior price objective of $8.00.

A number of other research firms have also commented on HIVE. Zacks Investment Research upgraded shares of Aerohive Networks from a hold rating to a buy rating and set a $7.50 price objective on the stock in a research note on Tuesday, August 9th. JMP Securities reduced their target price on shares of Aerohive Networks from $10.00 to $9.00 and set a market outperform rating for the company in a report on Thursday, August 4th. Finally, Piper Jaffray Cos. restated an overweight rating and set a $7.50 target price (up from $7.20) on shares of Aerohive Networks in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $6.63.

Aerohive Networks (NYSE:HIVE) traded down 2.53% during mid-day trading on Friday, hitting $5.40. The stock had a trading volume of 130,511 shares. Aerohive Networks has a one year low of $4.08 and a one year high of $7.48. The firm’s 50-day moving average is $6.19 and its 200 day moving average is $6.32. The stock’s market cap is $235.47 million.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. Aerohive Networks had a negative net margin of 21.86% and a negative return on equity of 106.44%. The business had revenue of $47.63 million for the quarter, compared to analyst estimates of $47.44 million. During the same quarter last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities research analysts expect that Aerohive Networks will post ($0.18) EPS for the current year.

Large investors have recently modified their holdings of the stock. Royce & Associates LP raised its stake in shares of Aerohive Networks by 15.4% in the first quarter. Royce & Associates LP now owns 75,000 shares of the company’s stock worth $374,000 after buying an additional 10,000 shares during the period. Menta Capital LLC increased its position in Aerohive Networks by 190.0% in the first quarter. Menta Capital LLC now owns 63,128 shares of the company’s stock worth $315,000 after buying an additional 41,360 shares in the last quarter. Spark Investment Management LLC increased its position in Aerohive Networks by 28.5% in the first quarter. Spark Investment Management LLC now owns 144,000 shares of the company’s stock worth $718,000 after buying an additional 31,924 shares in the last quarter. State Street Corp increased its position in Aerohive Networks by 14.1% in the first quarter. State Street Corp now owns 222,932 shares of the company’s stock worth $1,107,000 after buying an additional 27,514 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Aerohive Networks by 7.8% in the first quarter. Geode Capital Management LLC now owns 123,240 shares of the company’s stock worth $614,000 after buying an additional 8,906 shares in the last quarter. 46.90% of the stock is owned by institutional investors.

About Aerohive Networks

Aerohive Networks, Inc, together with its subsidiaries, is engaged in designing and development of a cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge. The Company’s portfolio of products and solutions is built around sets of technologies and capabilities, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights.

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