Aerohive Networks Inc (NYSE:HIVE) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 773,400 shares, a drop of 31.4% from the May 15th total of 1,127,700 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 304,400 shares, the days-to-cover ratio is currently 2.5 days.
A number of research analysts have weighed in on HIVE shares. ValuEngine upgraded Aerohive Networks from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Craig Hallum downgraded Aerohive Networks from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded Aerohive Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th.
Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its position in shares of Aerohive Networks by 57,258.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,883 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 6,871 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Aerohive Networks in the fourth quarter valued at approximately $68,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Aerohive Networks in the fourth quarter valued at approximately $68,000. Hennessy Advisors Inc. acquired a new stake in shares of Aerohive Networks in the first quarter valued at approximately $73,000. Finally, Partners Group Holding AG acquired a new stake in shares of Aerohive Networks in the fourth quarter valued at approximately $82,000. Hedge funds and other institutional investors own 62.56% of the company’s stock.
HIVE stock traded up $0.02 during mid-day trading on Thursday, reaching $4.46. The company had a trading volume of 2,478,808 shares, compared to its average volume of 481,108. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.03 and a quick ratio of 1.77. The stock’s 50 day moving average is $3.42. The company has a market capitalization of $179.72 million, a P/E ratio of -15.38 and a beta of 1.07. Aerohive Networks has a 52 week low of $3.12 and a 52 week high of $5.18.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. The firm had revenue of $33.02 million during the quarter, compared to the consensus estimate of $33.00 million. Aerohive Networks had a negative return on equity of 94.44% and a negative net margin of 12.93%. As a group, equities analysts expect that Aerohive Networks will post -0.36 EPS for the current fiscal year.
Aerohive Networks Company Profile
Aerohive Networks, Inc, together with its subsidiaries, designs and develops cloud networking and enterprise Wi-Fi solutions in the Americas, Europe, the Middle East and Africa, and the Asia Pacific. The company provides hardware products, such as wireless access points, branch routers, and switches; tiered maintenance and support services comprising technical support, bug fixes, access to priority hardware replacement service, and unspecified upgrades; and Software as a Service subscriptions, including comparable maintenance and support services.
Further Reading: Preferred Stock
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