Aerohive Networks, Inc. (NYSE:HIVE) issued its earnings results on Tuesday. The communications equipment provider reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02, Bloomberg Earnings reports. The company had revenue of $42.30 million for the quarter, compared to analysts’ expectations of $43.11 million. Aerohive Networks had a negative net margin of 20.12% and a negative return on equity of 109.99%. The firm’s revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) earnings per share.
Aerohive Networks (NYSE HIVE) traded down 1.07% during mid-day trading on Wednesday, hitting $4.61. 571,405 shares of the company were exchanged. Aerohive Networks has a 12-month low of $3.66 and a 12-month high of $7.40. The stock’s 50 day moving average is $4.96 and its 200-day moving average is $4.69. The company’s market cap is $201.02 million.
TRADEMARK VIOLATION WARNING: This piece was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://stocknewstimes.com/2017/08/02/aerohive-networks-inc-nysehive-releases-earnings-results.html.
In related news, CEO David K. Flynn acquired 40,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $4.30 per share, with a total value of $172,000.00. Following the completion of the acquisition, the chief executive officer now owns 209,236 shares in the company, valued at $899,714.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John Ritchie acquired 20,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $4.31 per share, with a total value of $86,200.00. Following the completion of the acquisition, the chief financial officer now owns 168,541 shares of the company’s stock, valued at approximately $726,411.71. The disclosure for this purchase can be found here. 26.23% of the stock is currently owned by company insiders.
A number of analysts have weighed in on HIVE shares. Wunderlich raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday, May 4th. DA Davidson reissued a “buy” rating and set a $9.00 target price on shares of Aerohive Networks in a report on Friday, May 19th. Zacks Investment Research raised shares of Aerohive Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Monday, May 22nd. Finally, BidaskClub cut shares of Aerohive Networks from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Aerohive Networks has an average rating of “Hold” and a consensus target price of $6.11.
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.
Receive News & Ratings for Aerohive Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerohive Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
