Wunderlich cut shares of Aerohive Networks Inc. (NYSE:HIVE) from a buy rating to a hold rating in a research report report published on Friday. The brokerage currently has $5.00 price target on the stock, down from their prior price target of $8.00.

HIVE has been the subject of several other reports. Buckingham Research lowered Aerohive Networks from a buy rating to a neutral rating and lowered their price target for the stock from $8.00 to $5.00 in a research report on Friday. Piper Jaffray Cos. restated an overweight rating and set a $7.50 price target (up from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. JMP Securities lowered their price target on Aerohive Networks from $10.00 to $9.00 and set a market outperform rating for the company in a research report on Thursday, August 4th. Finally, Zacks Investment Research lowered Aerohive Networks from a buy rating to a hold rating in a research report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $6.63.

Shares of Aerohive Networks (NYSE:HIVE) traded down 2.53% on Friday, reaching $5.40. The company had a trading volume of 130,511 shares. The company has a 50 day moving average of $6.19 and a 200-day moving average of $6.32. The company’s market capitalization is $235.47 million. Aerohive Networks has a 52 week low of $4.08 and a 52 week high of $7.48.

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

Hedge funds have recently made changes to their positions in the company. Boston Partners acquired a new stake in shares of Aerohive Networks during the second quarter worth about $3,207,000. Murphy Michael R boosted its stake in Aerohive Networks by 12.4% in the second quarter. Murphy Michael R now owns 4,354,385 shares of the company’s stock worth $28,826,000 after buying an additional 479,740 shares during the period. Granahan Investment Management Inc. MA boosted its stake in Aerohive Networks by 17.4% in the first quarter. Granahan Investment Management Inc. MA now owns 1,613,104 shares of the company’s stock worth $8,049,000 after buying an additional 239,630 shares during the period. Mutual of America Capital Management LLC boosted its stake in Aerohive Networks by 52.7% in the second quarter. Mutual of America Capital Management LLC now owns 473,729 shares of the company’s stock worth $3,136,000 after buying an additional 163,393 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Aerohive Networks during the second quarter worth approximately $728,000. 46.90% of the stock is owned by institutional investors.

Aerohive Networks Company Profile

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.

5 Day Chart for NYSE:HIVE

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