Aerohive Networks, Inc. (HIVE) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Aerohive Networks, Inc. (NYSE:HIVE) have been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.11.
HIVE has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Monday, May 22nd. Wunderlich raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Thursday, May 4th. BidaskClub cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, DA Davidson reissued a “buy” rating and issued a $9.00 price target on shares of Aerohive Networks in a research note on Friday, May 19th.
In related news, CEO David K. Flynn acquired 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average price of $4.30 per share, with a total value of $172,000.00. Following the completion of the acquisition, the chief executive officer now owns 209,236 shares in the company, valued at $899,714.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Ritchie acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $4.31 per share, for a total transaction of $86,200.00. Following the acquisition, the chief financial officer now owns 168,541 shares of the company’s stock, valued at approximately $726,411.71. The disclosure for this purchase can be found here. 26.23% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new position in Aerohive Networks during the first quarter worth $108,000. Goldman Sachs Group Inc. raised its position in Aerohive Networks by 18.3% in the first 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. Trexquant Investment LP purchased a new position in Aerohive Networks during the first quarter worth $121,000. Stoneridge Investment Partners LLC purchased a new position in Aerohive Networks during the first quarter worth $134,000. Finally, OppenheimerFunds Inc. raised its position in Aerohive Networks by 1.4% in the first quarter. OppenheimerFunds Inc. now owns 83,636 shares of the communications equipment provider’s stock worth $352,000 after buying an additional 1,152 shares in the last quarter. Institutional investors own 53.31% of the company’s stock.
Aerohive Networks (NYSE HIVE) opened at 4.79 on Friday. The company’s market cap is $208.87 million. The stock has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.84. Aerohive Networks has a 12 month low of $3.66 and a 12 month high of $7.45.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, May 3rd. The communications equipment provider reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.09. Aerohive Networks had a negative net margin of 20.12% and a negative return on equity of 109.99%. The firm had revenue of $36.35 million during the quarter, compared to the consensus estimate of $35.88 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. Analysts anticipate that Aerohive Networks will post ($0.06) earnings per share for the current fiscal year.
Aerohive Networks Company Profile
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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