Aerohive Networks Inc (NYSE:HIVE) Signals ‘Overbought’ According to the RSI

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Aerohive Networks Inc (NYSE:HIVE) has reached an overbought level with a 14-day RSI of 80.96.

The Relative Strength Index (RSI) is a very common technical indicator used to determine strengthening and weakening momentum in price action. RSI levels 70 and above are considered overbought with RSI’s under 30 indicating oversold. Overbought is a technical condition that occurs when price momentum is considered too high and the probability of decline is higher.

Volatility

Aerohive Networks Inc’s beta is at 1.56 meaning it is more volatile than the market as a whole. Stocks with beta’s lower than 1 are less risky than the market while those with a higher beta are more risky than the market.

The stock’s Average True Range (ATR) is 0.17. The ATR is a short term indicator of volatility. A high or low ATR doesn’t tell you which way a stock will move but is a signal that it is likely to move.

Short Interest

Traders are more bearish on shares of Aerohive Networks Inc if you look at the rise in short interest. The firm experienced a rise in short interest of 10.89% as of the latest report on October 31, 2017. Short shares grew 140,778 over that period. Days to cover decreased from 8.0 to 6.0 and the percentage of shorted shares was 0.03% on October 31.

Recent Analyst Ratings

Craig Hallum updated guidance on HIVE giving it an initial rating of “Buy”.

The company’s P/E ratio is N/A and the market cap is 276.57M. As of the last earnings report the EPS was $-0.51 with 53.60M shares now outstanding.

Company Information

Aerohive Networks, Inc., launched on March 15, 2006, 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 primary sets of technologies and solutions, which include Enterprise Cloud Networking, Wireless Fidelity (Wi-Fi) Connectivity and Application and Insights. It conducts its business in geographic regions, including Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). Its product portfolio includes hardware products, cloud-based network management and applications, and support services. Its hardware products include access points, branch routers and access switches. Its hardware products are developed by its hardware design team working in conjunction with original design manufacturer (ODM) partners, and leverage the commercially available Wi-Fi radios, network processors, crypto accelerators and switching chips. Its Wi-Fi access points run its HiveOS operating system. It sells access switches and branch routers in conjunction with a sale of Wi-Fi access points and also offers Wi-Fi access points for use with other manufactures access switches..