Zacks Investment Research lowered shares of Aerohive Networks (NYSE:HIVE) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.
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. “
Several other equities research analysts also recently weighed in on HIVE. Dougherty & Co downgraded shares of Aerohive Networks from a buy rating to a neutral rating in a research report on Wednesday. ValuEngine raised shares of Aerohive Networks from a strong sell rating to a sell rating in a research report on Monday, October 2nd. Finally, Craig Hallum started coverage on shares of Aerohive Networks in a research report on Tuesday, October 17th. They set a buy rating and a $6.00 price target for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $6.05.
Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The business had revenue of $37.07 million during the quarter, compared to the consensus estimate of $38.41 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. research analysts forecast that Aerohive Networks will post -0.44 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in Aerohive Networks in the 3rd quarter worth approximately $112,000. Sterling Capital Management LLC bought a new stake in Aerohive Networks in the 3rd quarter worth approximately $638,000. Granahan Investment Management Inc. MA grew its position in Aerohive Networks by 10.4% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,213,714 shares of the communications equipment provider’s stock worth $4,964,000 after purchasing an additional 114,355 shares during the period. Yiheng Capital LLC grew its position in Aerohive Networks by 56.9% in the 3rd quarter. Yiheng Capital LLC now owns 1,863,083 shares of the communications equipment provider’s stock worth $7,620,000 after purchasing an additional 675,814 shares during the period. Finally, Royce & Associates LP bought a new stake in Aerohive Networks in the 3rd quarter worth approximately $4,116,000. 46.13% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aerohive Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks and related companies with MarketBeat.com's FREE daily email newsletter.