Thompson Davis & CO. Inc. Takes Position in Aerohive Networks, Inc. (HIVE)
Thompson Davis & CO. Inc. acquired a new stake in shares of Aerohive Networks, Inc. (NYSE:HIVE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,202 shares of the communications equipment provider’s stock, valued at approximately $161,000. Thompson Davis & CO. Inc. owned about 0.06% of Aerohive Networks as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new position in shares of Aerohive Networks during the second quarter valued at approximately $100,000. Citadel Advisors LLC purchased a new position in shares of Aerohive Networks during the first quarter valued at approximately $108,000. Goldman Sachs Group Inc. raised its holdings in shares of Aerohive Networks by 18.3% during the first quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock valued at $111,000 after purchasing an additional 4,074 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Aerohive Networks during the first quarter valued at approximately $121,000. Finally, Rhumbline Advisers raised its holdings in shares of Aerohive Networks by 23.8% during the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock valued at $158,000 after purchasing an additional 6,061 shares during the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.
Aerohive Networks, Inc. (HIVE) traded up 1.93% on Friday, hitting $3.69. 352,386 shares of the stock traded hands. The company’s market capitalization is $160.91 million. Aerohive Networks, Inc. has a 12 month low of $3.02 and a 12 month high of $6.35. The firm has a 50-day moving average price of $3.75 and a 200-day moving average price of $4.32.
Aerohive Networks (NYSE:HIVE) last released its earnings results 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. The company had revenue of $42.30 million during the quarter, compared to analysts’ expectations of $43.11 million. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. Aerohive Networks’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. Analysts forecast that Aerohive Networks, Inc. will post ($0.14) earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Zacks Investment Research cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. ValuEngine cut shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, DA Davidson reissued a “buy” rating and set a $9.00 price objective on shares of Aerohive Networks in a report on Friday, May 19th. Three investment analysts have rated the stock with a sell rating, three have given 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 $5.87.
About Aerohive Networks
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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