Aerohive Networks, Inc. (HIVE) Short Interest Down 33.0% in September
Aerohive Networks, Inc. (NYSE:HIVE) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,236,559 shares, a decrease of 33.0% from the August 31st total of 1,846,178 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 333,657 shares, the days-to-cover ratio is currently 3.7 days.
Institutional investors and hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC bought a new position in shares of Aerohive Networks during the 2nd quarter valued at $100,000. Citadel Advisors LLC purchased a new position in shares of Aerohive Networks in the 1st quarter worth $108,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 during the last quarter. Trexquant Investment LP purchased a new position in shares of Aerohive Networks in the 1st quarter worth $121,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Aerohive Networks from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. BidaskClub cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Finally, Zacks Investment Research cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Aerohive Networks presently has a consensus rating of “Hold” and an average price target of $5.87.
Aerohive Networks (NYSE HIVE) opened at 4.05 on Wednesday. The stock’s 50 day moving average price is $3.67 and its 200-day moving average price is $4.24. The stock’s market cap is $176.60 million. Aerohive Networks has a 12 month low of $3.02 and a 12 month high of $6.30.
Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. Aerohive Networks had a negative net margin of 18.58% and a negative return on equity of 107.93%. The company had revenue of $42.30 million for the quarter, compared to the consensus estimate of $43.11 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. Analysts anticipate that Aerohive Networks will post ($0.14) EPS for the current fiscal year.
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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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