ValuEngine upgraded shares of Aerohive Networks, Inc. (NYSE:HIVE) from a strong sell rating to a sell rating in a report issued on Friday.

Several other equities analysts have also issued reports on the company. BidaskClub lowered Aerohive Networks from a sell rating to a strong sell rating in a research report on Friday, July 28th. Zacks Investment Research lowered Aerohive Networks from a buy rating to a hold rating in a research report on Tuesday, July 18th. Finally, Craig Hallum started coverage on Aerohive Networks in a research report on Tuesday, October 17th. They issued a buy rating and a $6.00 price target for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $6.05.

Aerohive Networks (HIVE) opened at $4.55 on Friday. 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 has a 52-week low of $3.02 and a 52-week high of $6.14.

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

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Aerohive Networks announced that its board has approved a stock repurchase program on Wednesday, November 1st that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the communications equipment provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIVE. Essex Investment Management Co. LLC bought a new stake in Aerohive Networks in the 2nd quarter worth about $100,000. Goldman Sachs Group Inc. increased its holdings in 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 buying an additional 4,074 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Aerohive Networks by 66.6% in the 3rd quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock worth $142,000 after buying an additional 13,865 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Aerohive Networks by 31.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after buying an additional 7,258 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in 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 buying an additional 6,061 shares in the last quarter. Institutional investors own 45.86% of the company’s stock.

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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