Aerohive Networks Inc (NYSE:HIVE) dropped 2.3% during trading on Wednesday . The company traded as low as $3.45 and last traded at $3.42. Approximately 2,323 shares were traded during trading, a decline of 99% from the average daily volume of 215,360 shares. The stock had previously closed at $3.50.

Several equities research analysts have recently issued reports on HIVE shares. Zacks Investment Research lowered Aerohive Networks from a “buy” rating to a “hold” rating in a report on Friday, January 18th. ValuEngine upgraded Aerohive Networks from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Aerohive Networks in a report on Thursday, February 7th.

The firm has a market cap of $237.15 million, a PE ratio of -11.72 and a beta of 1.30.

Aerohive Networks (NYSE:HIVE) last announced its quarterly earnings results on Wednesday, February 6th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $38.12 million during the quarter, compared to analyst estimates of $39.00 million. Aerohive Networks had a negative return on equity of 78.97% and a negative net margin of 11.84%. As a group, analysts anticipate that Aerohive Networks Inc will post -0.19 earnings per share for the current fiscal year.

In related news, SVP Alan Amrod sold 40,555 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $4.34, for a total value of $176,008.70. Following the transaction, the senior vice president now directly owns 276,606 shares of the company’s stock, valued at approximately $1,200,470.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen Debenham sold 12,960 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $4.73, for a total value of $61,300.80. Following the completion of the transaction, the vice president now directly owns 289,838 shares in the company, valued at $1,370,933.74. The disclosure for this sale can be found here. 26.13% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of HIVE. Bank of America Corp DE increased its position in Aerohive Networks by 4.0% in the 4th quarter. Bank of America Corp DE now owns 299,551 shares of the communications equipment provider’s stock worth $976,000 after buying an additional 11,408 shares during the period. Rhumbline Advisers increased its position in Aerohive Networks by 51.3% in the 4th quarter. Rhumbline Advisers now owns 42,443 shares of the communications equipment provider’s stock worth $138,000 after buying an additional 14,394 shares during the period. Hennessy Advisors Inc. bought a new position in Aerohive Networks in the 1st quarter worth approximately $73,000. Teachers Advisors LLC increased its position in Aerohive Networks by 7.3% in the 3rd quarter. Teachers Advisors LLC now owns 244,874 shares of the communications equipment provider’s stock worth $1,009,000 after buying an additional 16,748 shares during the period. Finally, SG Americas Securities LLC bought a new position in Aerohive Networks in the 4th quarter worth approximately $68,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

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About Aerohive Networks (NYSE:HIVE)

Aerohive Networks, Inc, together with its subsidiaries, designs and develops cloud networking and enterprise Wi-Fi solutions in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. The company provides hardware products, such as wireless access points, branch routers, and switches; tiered maintenance and support services comprising technical support, bug fixes, access to priority hardware replacement service, and unspecified upgrades; and Software as a Service subscriptions, including comparable maintenance and support services.

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