ValuEngine upgraded shares of Aerohive Networks, Inc. (NYSE:HIVE) from a strong sell rating to a sell rating in a research report report published on Monday morning.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Aerohive Networks from a hold rating to a sell rating in a research report on Tuesday, August 8th. BidaskClub downgraded Aerohive Networks from a sell rating to a strong sell rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.05.

Shares of Aerohive Networks (NYSE HIVE) traded down 0.98% on Monday, reaching $4.06. The company’s stock had a trading volume of 59,904 shares. The stock’s market cap is $177.04 million. Aerohive Networks has a 1-year low of $3.02 and a 1-year high of $6.14. The company’s 50 day moving average is $3.70 and its 200-day moving average is $4.23.

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

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Yiheng Capital LLC increased its position in Aerohive Networks by 25.8% during the second quarter. Yiheng Capital LLC now owns 1,187,269 shares of the communications equipment provider’s stock worth $5,936,000 after buying an additional 243,788 shares during the last quarter. Vanguard Group Inc. increased its position in Aerohive Networks by 18.9% during the second quarter. Vanguard Group Inc. now owns 1,137,451 shares of the communications equipment provider’s stock worth $5,687,000 after buying an additional 180,794 shares during the last quarter. Russell Investments Group Ltd. increased its position in Aerohive Networks by 33.3% during the second quarter. Russell Investments Group Ltd. now owns 1,056,900 shares of the communications equipment provider’s stock worth $5,284,000 after buying an additional 263,879 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in Aerohive Networks during the second quarter worth approximately $2,487,000. Finally, Marshall Wace North America L.P. acquired a new position in Aerohive Networks during the second quarter worth approximately $2,041,000. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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