Zacks Investment Research cut shares of Aerohive Networks (NYSE:HIVE) from a buy rating to a hold rating in a research report report published on Wednesday 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. “

HIVE has been the subject of several other research reports. ValuEngine lowered shares of Aerohive Networks from a sell rating to a strong sell rating in a research note on Wednesday, September 6th. Craig Hallum initiated coverage on shares of Aerohive Networks in a research note on Tuesday, October 17th. They set a buy rating and a $6.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $6.05.

Shares of Aerohive Networks (HIVE) opened at $5.81 on Wednesday. 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 one year low of $3.02 and a one year high of $6.50.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $37.07 million during the quarter, compared to analyst estimates of $38.41 million. During the same quarter last year, the business posted ($0.06) EPS. Aerohive Networks’s quarterly revenue was down 8.2% compared to the same quarter last year. analysts expect that Aerohive Networks will post -0.43 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC purchased a new stake in shares of Aerohive Networks during the 2nd quarter worth approximately $625,000. American Century Companies Inc. purchased a new position in Aerohive Networks in the 3rd quarter valued at approximately $665,000. Northern Trust Corp grew its stake in Aerohive Networks by 31.6% in the 2nd quarter. Northern Trust Corp now owns 347,712 shares of the communications equipment provider’s stock valued at $1,738,000 after buying an additional 83,395 shares in the last quarter. S Squared Technology LLC purchased a new position in Aerohive Networks in the 2nd quarter valued at approximately $1,361,000. Finally, Schwab Charles Investment Management Inc. grew its stake in Aerohive Networks by 51.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 112,011 shares of the communications equipment provider’s stock valued at $561,000 after buying an additional 38,175 shares in the last quarter. Institutional investors own 46.13% of the company’s stock.

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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.

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