Trade Report: Today, Aerohive Networks Inc. (HIVE) Given Average Rating of “Hold” by Brokerages

Today, Aerohive Networks Inc. (HIVE) Given Average Rating of “Hold” by Brokerages

Shares of Aerohive Networks Inc. (NYSE:HIVE) have earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.08.

HIVE has been the subject of a number of recent analyst reports. JMP Securities cut their price objective on Aerohive Networks from $10.00 to $9.00 and set a “market outperform” rating for the company in a research report on Thursday, August 4th. Piper Jaffray Cos. restated an “overweight” rating and issued a $7.50 price objective (up from $7.20) on shares of Aerohive Networks in a research report on Friday, August 5th. Zacks Investment Research upgraded Aerohive Networks from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Tuesday, August 9th. Buckingham Research cut Aerohive Networks from a “buy” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $5.00 in a research report on Friday, October 14th. Finally, Wunderlich cut Aerohive Networks from a “buy” rating to a “hold” rating and cut their price objective for the company from $8.00 to $5.00 in a research report on Friday, October 14th.

Several hedge funds have recently modified their holdings of the company. Prudential Financial Inc. purchased a new stake in shares of Aerohive Networks during the second quarter valued at approximately $102,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Aerohive Networks during the third quarter valued at approximately $117,000. Rhumbline Advisers boosted its stake in shares of Aerohive Networks by 1.9% in the third quarter. Rhumbline Advisers now owns 22,511 shares of the company’s stock valued at $137,000 after buying an additional 420 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Aerohive Networks during the third quarter valued at approximately $141,000. Finally, DIAM Co. Ltd. purchased a new stake in shares of Aerohive Networks during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 48.97% of the company’s stock.

Aerohive Networks (NYSE:HIVE) traded up 1.62% during mid-day trading on Friday, reaching $5.63. The company’s stock had a trading volume of 18,253 shares. The firm’s 50 day moving average price is $5.46 and its 200 day moving average price is $6.27. Aerohive Networks has a 12-month low of $4.08 and a 12-month high of $7.45. The stock’s market cap is $245.50 million.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01. The business earned $40.40 million during the quarter, compared to analysts’ expectations of $40 million. Aerohive Networks had a negative return on equity of 107.34% and a negative net margin of 21.26%. The business’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, equities analysts predict that Aerohive Networks will post ($0.28) earnings per share for the current year.

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