Shares of Aerohive Networks Inc (NYSE:HIVE) traded down 6.6% on Thursday . The stock traded as low as $3.39 and last traded at $3.40. 590,848 shares traded hands during trading, an increase of 83% from the average session volume of 322,152 shares. The stock had previously closed at $3.64.
The stock has a market cap of $188.89 million, a price-to-earnings ratio of -8.20 and a beta of 1.10.
Aerohive Networks (NYSE:HIVE) last posted its quarterly earnings data on Wednesday, October 31st. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The firm had revenue of $40.55 million for the quarter, compared to analysts’ expectations of $41.50 million. Aerohive Networks had a negative net margin of 10.39% and a negative return on equity of 74.73%. On average, analysts forecast that Aerohive Networks Inc will post -0.3 earnings per share for the current year.
In related news, VP Stephen Debenham sold 15,112 shares of Aerohive Networks stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $3.62, for a total value of $54,705.44. Following the transaction, the vice president now owns 307,732 shares in the company, valued at approximately $1,113,989.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Schaepe sold 10,192 shares of Aerohive Networks stock in a transaction on Friday, December 14th. The stock was sold at an average price of $3.46, for a total transaction of $35,264.32. The disclosure for this sale can be found here. 26.13% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of HIVE. Jefferies Group LLC purchased a new position in shares of Aerohive Networks in the third quarter valued at about $117,000. Engineers Gate Manager LP purchased a new position in shares of Aerohive Networks in the second quarter valued at about $151,000. Balter Liquid Alternatives LLC purchased a new position in shares of Aerohive Networks in the second quarter valued at about $157,000. Bessemer Group Inc. purchased a new position in shares of Aerohive Networks in the third quarter valued at about $172,000. Finally, Standard Life Aberdeen plc purchased a new position in shares of Aerohive Networks in the third quarter valued at about $233,000. Institutional investors own 52.65% of the company’s stock.
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Aerohive Networks Company Profile (NYSE:HIVE)
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.
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