Aerohive Networks, Inc. (NYSE:HIVE) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 1,236,559 shares, a decrease of 33.0% from the August 31st total of 1,846,178 shares. Based on an average trading volume of 333,657 shares, the short-interest ratio is currently 3.7 days. Approximately 4.0% of the shares of the company are short sold.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC purchased a new stake in Aerohive Networks in the 2nd quarter worth $625,000. Marshall Wace North America L.P. bought a new position in Aerohive Networks during the 2nd quarter valued at about $2,041,000. Russell Investments Group Ltd. grew its holdings in Aerohive Networks by 36.7% during the 1st quarter. Russell Investments Group Ltd. now owns 793,021 shares of the communications equipment provider’s stock valued at $3,339,000 after purchasing an additional 212,899 shares during the last quarter. S Squared Technology LLC bought a new position in Aerohive Networks during the 2nd quarter valued at about $1,361,000. Finally, VIEX Capital Advisors LLC bought a new position in Aerohive Networks during the 1st quarter valued at about $1,578,000. Institutional investors own 44.70% of the company’s stock.

Several equities research analysts have issued reports on the company. BidaskClub downgraded Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research downgraded Aerohive Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, ValuEngine upgraded Aerohive Networks from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.05.

Shares of Aerohive Networks (HIVE) opened at 4.06 on Monday. The company has a 50 day moving average price of $3.72 and a 200-day moving average price of $4.23. The stock’s market cap is $177.04 million. Aerohive Networks has a 12 month low of $3.02 and a 12 month high of $6.14.

Aerohive Networks (NYSE:HIVE) last released its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating 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 company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.11 million. During the same quarter in the previous year, the company earned ($0.02) EPS. Aerohive Networks’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities research analysts predict that Aerohive Networks will post ($0.14) earnings per share for the current year.

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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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