Aerohive Networks, Inc. (NYSE:HIVE) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub downgraded Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Craig Hallum assumed coverage on Aerohive Networks in a research note on Tuesday, October 17th. They issued a “buy” rating and a $6.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Aerohive Networks currently has an average rating of “Hold” and an average price target of $6.05.

Aerohive Networks (NYSE HIVE) traded up $0.12 on Friday, hitting $4.67. The stock had a trading volume of 488,586 shares, compared to its average volume of 262,787. Aerohive Networks has a 12 month low of $3.02 and a 12 month high of $6.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.95 and a current ratio of 2.19.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative return on equity of 103.45% and a negative net margin of 17.00%. The company had revenue of $37.07 million for the quarter, compared to the consensus estimate of $38.41 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. research analysts forecast that Aerohive Networks will post -0.43 EPS for the current year.

Aerohive Networks declared that its Board of Directors has initiated a share buyback program on Wednesday, November 1st that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC grew its holdings in shares of Aerohive Networks by 0.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 109,437 shares of the communications equipment provider’s stock worth $461,000 after acquiring an additional 948 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Aerohive Networks by 1.4% in the 1st quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock worth $352,000 after acquiring an additional 1,152 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 during the last quarter. Rhumbline Advisers grew its holdings in shares of Aerohive Networks by 23.8% in the 2nd quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 6,061 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Aerohive Networks by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 276,186 shares of the communications equipment provider’s stock worth $1,162,000 after acquiring an additional 6,421 shares during the last quarter. Institutional investors and hedge funds own 44.62% of the company’s stock.

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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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