Dougherty & Co downgraded shares of Aerohive Networks (NYSE:HIVE) from a buy rating to a neutral rating in a research report released on Wednesday morning, MarketBeat reports.

A number of other brokerages have also weighed in on HIVE. Zacks Investment Research lowered Aerohive Networks from a buy rating to a hold rating in a report on Wednesday, January 3rd. ValuEngine raised Aerohive Networks from a strong sell rating to a sell rating in a report on Friday, November 10th. Finally, Craig Hallum began coverage on Aerohive Networks in a report on Tuesday, October 17th. They set a buy rating and a $6.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $6.05.

Shares of Aerohive Networks (NYSE HIVE) traded up $0.11 during mid-day trading on Wednesday, hitting $4.17. The stock had a trading volume of 623,903 shares, compared to its average volume of 670,080. The company has a quick ratio of 1.95, a current ratio of 2.19 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $229.56, a price-to-earnings ratio of -8.18 and a beta of 1.79. 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 announced its quarterly earnings data on Wednesday, November 1st. The communications equipment provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $37.07 million for the quarter, compared to analyst estimates of $38.41 million. Aerohive Networks had a negative return on equity of 103.45% and a negative net margin of 17.00%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.06) earnings per share. equities analysts expect that Aerohive Networks will post -0.44 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of HIVE. Susquehanna International Group LLP purchased a new position in Aerohive Networks during the third quarter worth approximately $112,000. The Manufacturers Life Insurance Company boosted its position 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 in the last quarter. Rhumbline Advisers boosted its position in Aerohive Networks by 23.8% during the second quarter. Rhumbline Advisers now owns 31,530 shares of the communications equipment provider’s stock worth $158,000 after purchasing an additional 6,061 shares in the last quarter. Wells Fargo & Company MN boosted its position in 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 worth $142,000 after purchasing an additional 13,865 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Aerohive Networks during the second quarter worth approximately $201,000. 46.13% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Aerohive Networks (NYSE:HIVE)

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