Aerohive Networks (HIVE) Lifted to “Hold” at Zacks Investment Research

Aerohive Networks (NYSE:HIVE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 subject 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 price objective for the company. ValuEngine raised shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a research note on Friday, November 10th. Finally, Dougherty & Co downgraded shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.05.

Shares of Aerohive Networks (HIVE) opened at $4.00 on Friday. 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 1 year low of $3.02 and a 1 year high of $6.50. The stock has a market cap of $219.22, a PE ratio of -8.00 and a beta of 1.29.

Aerohive Networks (NYSE:HIVE) last issued its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $37.07 million during the quarter, compared to the consensus estimate of $38.41 million. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. equities research analysts anticipate that Aerohive Networks will post -0.43 EPS for the current year.

Large investors have recently modified their holdings of the company. Susquehanna International Group LLP bought a new position in shares of Aerohive Networks during the third quarter valued at about $112,000. Wells Fargo & Company MN raised its stake in shares of Aerohive Networks by 66.6% during the third quarter. Wells Fargo & Company MN now owns 34,691 shares of the communications equipment provider’s stock valued at $142,000 after acquiring an additional 13,865 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Aerohive Networks by 31.8% in the second 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 in the last quarter. Rhumbline Advisers raised its stake in Aerohive Networks by 23.8% in the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock worth $158,000 after buying an additional 6,061 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Aerohive Networks in the second quarter worth about $201,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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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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