Aerohive Networks, Inc. (NYSE:HIVE) has been given an average rating of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $6.05.

A number of equities analysts have weighed in on HIVE shares. Wunderlich upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Thursday, May 4th. BidaskClub lowered Aerohive Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Monday, May 22nd. Finally, DA Davidson restated a “buy” rating and issued a $9.00 target price on shares of Aerohive Networks in a research note on Friday, May 19th.

In other news, CEO David K. Flynn acquired 40,000 shares of Aerohive Networks stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average cost of $4.30 per share, for a total transaction of $172,000.00. Following the transaction, the chief executive officer now owns 209,236 shares of the company’s stock, valued at $899,714.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Ritchie acquired 20,000 shares of Aerohive Networks stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average price of $4.31 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief financial officer now directly owns 168,541 shares in the company, valued at approximately $726,411.71. The disclosure for this purchase can be found here. 26.23% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Boston Partners raised its position in shares of Aerohive Networks by 29.0% in the first quarter. Boston Partners now owns 2,602,810 shares of the communications equipment provider’s stock valued at $10,958,000 after buying an additional 585,565 shares during the period. Russell Investments Group Ltd. raised its position in shares of Aerohive Networks by 33.3% in the second quarter. Russell Investments Group Ltd. now owns 1,056,900 shares of the communications equipment provider’s stock valued at $5,284,000 after buying an additional 263,879 shares during the period. Yiheng Capital LLC raised its position in shares of Aerohive Networks by 3.5% in the first quarter. Yiheng Capital LLC now owns 943,481 shares of the communications equipment provider’s stock valued at $3,972,000 after buying an additional 32,283 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Aerohive Networks by 8.0% in the first quarter. Mutual of America Capital Management LLC now owns 680,519 shares of the communications equipment provider’s stock valued at $2,865,000 after buying an additional 50,323 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in shares of Aerohive Networks during the second quarter valued at approximately $2,041,000. Hedge funds and other institutional investors own 47.73% of the company’s stock.

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Shares of Aerohive Networks (NYSE HIVE) opened at 3.41 on Tuesday. The firm’s market capitalization is $148.70 million. Aerohive Networks has a 52 week low of $3.33 and a 52 week high of $7.40. The stock’s 50 day moving average price is $4.96 and its 200-day moving average price is $4.69.

Aerohive Networks (NYSE:HIVE) last announced its earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $42.30 million for the quarter, compared to analyst estimates of $43.11 million. Aerohive Networks had a negative return on equity of 107.93% and a negative net margin of 18.58%. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) EPS. Equities analysts predict that Aerohive Networks will post ($0.13) earnings per share for the current year.

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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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