Aerohive Networks (HIVE) Posts Quarterly Earnings Results

Aerohive Networks (NYSE:HIVE) released its quarterly earnings results on Thursday. The communications equipment provider reported ($0.06) earnings per share for the quarter, Briefing.com reports. The company had revenue of $37.20 million during the quarter, compared to analyst estimates of $37.04 million. Aerohive Networks had a negative net margin of 17.00% and a negative return on equity of 103.45%. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS.

Shares of Aerohive Networks (HIVE) traded up $0.13 on Friday, reaching $3.94. 158,302 shares of the company traded hands, compared to its average volume of 513,092. Aerohive Networks has a fifty-two week low of $3.02 and a fifty-two week high of $6.50. The company has a quick ratio of 1.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.94.

Several research firms have recently weighed in on HIVE. ValuEngine upgraded shares of Aerohive Networks from a “strong sell” rating to a “sell” rating in a report on Friday, November 10th. Dougherty & Co cut shares of Aerohive Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 17th. Craig Hallum began coverage on shares of Aerohive Networks in a report on Tuesday, October 17th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Aerohive Networks from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.25.

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Aerohive Networks by 31.8% during the second quarter. The Manufacturers Life Insurance Company now owns 30,090 shares of the communications equipment provider’s stock worth $150,000 after purchasing an additional 7,258 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Aerohive Networks by 15.3% during the second quarter. California State Teachers Retirement System now owns 55,641 shares of the communications equipment provider’s stock worth $278,000 after purchasing an additional 7,400 shares during the last quarter. Finally, State Street Corp boosted its holdings in Aerohive Networks by 15.8% during the second quarter. State Street Corp now owns 379,843 shares of the communications equipment provider’s stock worth $1,902,000 after purchasing an additional 51,774 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

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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.

Earnings History for Aerohive Networks (NYSE:HIVE)

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