Aerohive Networks (NYSE:HIVE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

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Several other research firms have also recently weighed in on HIVE. ValuEngine cut Aerohive Networks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 28th. Pi Financial dropped their price target on Aerohive Networks from $5.25 to $4.50 in a research report on Friday, March 2nd. Finally, Dougherty & Co cut Aerohive Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Aerohive Networks currently has a consensus rating of “Hold” and an average target price of $5.85.

Aerohive Networks stock opened at $3.98 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.99 and a debt-to-equity ratio of 0.91. The company has a market cap of $209.68, a price-to-earnings ratio of -9.71 and a beta of 1.16. Aerohive Networks has a fifty-two week low of $3.02 and a fifty-two week high of $6.50.

Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Thursday, February 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter. The firm had revenue of $37.20 million for the quarter, compared to the consensus estimate of $37.04 million. Aerohive Networks had a negative net margin of 14.99% and a negative return on equity of 94.14%. The business’s revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. analysts forecast that Aerohive Networks will post -0.31 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of HIVE. Millennium Management LLC raised its holdings in Aerohive Networks by 307.9% in the 4th quarter. Millennium Management LLC now owns 2,060,321 shares of the communications equipment provider’s stock worth $12,012,000 after acquiring an additional 1,555,157 shares during the last quarter. BlackRock Inc. raised its holdings in Aerohive Networks by 31.4% in the 4th quarter. BlackRock Inc. now owns 2,048,985 shares of the communications equipment provider’s stock worth $11,945,000 after acquiring an additional 489,227 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Aerohive Networks by 162.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,917,400 shares of the communications equipment provider’s stock worth $11,178,000 after acquiring an additional 1,186,500 shares during the last quarter. Royce & Associates LP raised its holdings in Aerohive Networks by 35.5% in the 4th quarter. Royce & Associates LP now owns 1,363,978 shares of the communications equipment provider’s stock worth $7,952,000 after acquiring an additional 357,678 shares during the last quarter. Finally, Spark Investment Management LLC raised its holdings in Aerohive Networks by 3,345.2% in the 4th quarter. Spark Investment Management LLC now owns 434,100 shares of the communications equipment provider’s stock worth $2,530,000 after acquiring an additional 421,500 shares during the last quarter. 46.75% of the stock is currently 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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