Zacks Investment Research downgraded shares of Aerohive Networks, Inc. (NYSE:HIVE) from a hold rating to a sell rating in a research report released on Tuesday, August 8th.

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 equities analysts have also issued research reports about the stock. DA Davidson reaffirmed a buy rating and issued a $9.00 price objective on shares of Aerohive Networks in a research note on Friday, May 19th. Wunderlich raised shares of Aerohive Networks from a hold rating to a buy rating and set a $5.00 target price for the company in a research note on Thursday, May 4th. Finally, BidaskClub lowered shares of Aerohive Networks from a sell rating to a strong sell rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $5.87.

Shares of Aerohive Networks (HIVE) traded down 4.36% on Tuesday, hitting $3.29. The stock had a trading volume of 327,527 shares. The stock has a 50 day moving average price of $4.31 and a 200-day moving average price of $4.50. The company’s market cap is $143.46 million. Aerohive Networks has a 12-month low of $3.02 and a 12-month high of $7.00.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The firm had revenue of $42.30 million during the quarter, compared to analyst estimates of $43.11 million. During the same quarter last year, the business posted ($0.02) EPS. The company’s revenue was down 11.2% on a year-over-year basis. On average, equities analysts expect that Aerohive Networks will post ($0.14) earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its stake in Aerohive Networks by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock valued at $461,000 after buying an additional 948 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Aerohive Networks by 1.4% in the first quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock valued at $352,000 after buying an additional 1,152 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Aerohive Networks by 18.3% in the first quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock valued at $111,000 after buying an additional 4,074 shares during the period. Rhumbline Advisers increased its position in shares of Aerohive Networks by 23.8% in the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after buying an additional 6,061 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Aerohive Networks by 2.4% in the first quarter. Geode Capital Management LLC now owns 276,186 shares of the communications equipment provider’s stock valued at $1,162,000 after buying an additional 6,421 shares during the period. 47.45% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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