Aerohive Networks Inc. (NYSE:HIVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

HIVE has been the subject of a number of other reports. Wunderlich cut Aerohive Networks from a “buy” rating to a “hold” rating and decreased their target price for the company from $8.00 to $5.00 in a research note on Friday. Buckingham Research cut Aerohive Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $5.00 in a research report on Friday. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $6.00 price objective (down from $7.00) on shares of Aerohive Networks in a research report on Saturday. William Blair reaffirmed an “outperform” rating on shares of Aerohive Networks in a research report on Friday. Finally, JMP Securities reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.63.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

Aerohive Networks (NYSE:HIVE) traded down 0.75% during mid-day trading on Tuesday, reaching $5.30. The company’s stock had a trading volume of 270,565 shares. Aerohive Networks has a 52-week low of $4.08 and a 52-week high of $7.48. The company has a 50 day moving average of $6.10 and a 200-day moving average of $6.35. The stock’s market cap is $231.11 million.

Aerohive Networks (NYSE:HIVE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $47.63 million during the quarter, compared to analysts’ expectations of $47.44 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. The company’s revenue was up 29.3% on a year-over-year basis. Equities analysts forecast that Aerohive Networks will post ($0.18) earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in HIVE. Prudential Financial Inc. bought a new stake in Aerohive Networks during the second quarter valued at about $102,000. Rhumbline Advisers raised its stake in Aerohive Networks by 4.1% in the second quarter. Rhumbline Advisers now owns 22,091 shares of the company’s stock valued at $146,000 after buying an additional 875 shares during the last quarter. DIAM Co. Ltd. bought a new stake in Aerohive Networks during the second quarter valued at about $163,000. A.R.T. Advisors LLC bought a new stake in Aerohive Networks during the second quarter valued at about $168,000. Finally, Strs Ohio raised its stake in Aerohive Networks by 8.6% in the second quarter. Strs Ohio now owns 26,600 shares of the company’s stock valued at $176,000 after buying an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 46.90% of the company’s stock.

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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