Aerohive Networks, Inc. (NYSE:HIVE) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Monday.

A number of other research firms have also recently weighed in on HIVE. Zacks Investment Research cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub downgraded shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Aerohive Networks currently has a consensus rating of “Hold” and an average target price of $5.87.

Aerohive Networks (NYSE:HIVE) opened at 4.05 on Monday. The firm has a 50 day moving average of $3.67 and a 200-day moving average of $4.24. Aerohive Networks has a 52-week low of $3.02 and a 52-week high of $6.30. The stock’s market cap is $176.60 million.

Aerohive Networks (NYSE:HIVE) last released its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.11 million. Aerohive Networks had a negative return on equity of 107.93% and a negative net margin of 18.58%. Aerohive Networks’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) EPS. Equities analysts anticipate that Aerohive Networks will post ($0.14) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC bought a new stake in Aerohive Networks during the 2nd quarter valued at about $100,000. Citadel Advisors LLC purchased a new stake in Aerohive Networks in the 1st quarter valued at about $108,000. Goldman Sachs Group Inc. grew its stake in Aerohive Networks by 18.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,294 shares of the communications equipment provider’s stock worth $111,000 after acquiring an additional 4,074 shares in the last quarter. Trexquant Investment LP bought a new position in Aerohive Networks in the 1st quarter worth about $121,000. Finally, The Manufacturers Life Insurance Company grew its stake in Aerohive Networks by 31.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after acquiring an additional 7,258 shares in the last quarter. Institutional investors own 44.70% of the company’s stock.

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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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