Aerohive Networks (HIVE) Downgraded by Zacks Investment Research to Sell

Aerohive Networks (NYSE:HIVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

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 topic of several other reports. Craig Hallum started coverage on shares of Aerohive Networks in a research note on Tuesday, October 17th. They set a “buy” rating and a $6.00 target price on the stock. ValuEngine raised shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Dougherty & Co lowered shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Aerohive Networks has an average rating of “Hold” and an average target price of $6.05.

Aerohive Networks (NYSE:HIVE) traded up $0.11 during mid-day trading on Friday, hitting $4.17. 623,903 shares of the stock traded hands, compared to its average volume of 670,080. 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 twelve month low of $3.02 and a twelve month high of $6.50. The stock has a market cap of $229.56, a price-to-earnings ratio of -8.18 and a beta of 1.79.

Aerohive Networks (NYSE:HIVE) last posted its 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. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The business had revenue of $37.07 million for the quarter, compared to analyst estimates of $38.41 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. research analysts expect that Aerohive Networks will post -0.44 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC acquired a new position in shares of Aerohive Networks during the 2nd quarter worth about $625,000. Northern Trust Corp raised its position in shares of Aerohive Networks by 31.6% during the 2nd quarter. Northern Trust Corp now owns 347,712 shares of the communications equipment provider’s stock worth $1,738,000 after purchasing an additional 83,395 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Aerohive Networks during the 3rd quarter worth about $665,000. Sterling Capital Management LLC acquired a new position in shares of Aerohive Networks during the 3rd quarter worth about $638,000. Finally, Yiheng Capital LLC raised its position in shares of Aerohive Networks by 56.9% during the 3rd quarter. Yiheng Capital LLC now owns 1,863,083 shares of the communications equipment provider’s stock worth $7,620,000 after purchasing an additional 675,814 shares during the last quarter. Hedge funds and other institutional investors own 46.13% of the company’s stock.

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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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