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Stock to Watch: Aerohive Network Up 40.1% (HIVE)

By David Diaz

Aerohive Network (NYSE:HIVE) is one of today's best performing low-priced stocks, up 40.1% to $4.47 on 32.4x average daily volume. Thus far today, Aerohive Network has traded 9.3 million shares, vs. average volume of 286,000 shares per day. The stock has outperformed the Dow (40.1% to the Dow's 0.3%) and outperformed the S&P 500 (40.1% to the S&P's 0.4%) during today's trading.

In the past 52 weeks, Aerohive Network share prices have been bracketed by a low of $3.12 and a high of $5.18 and are now at $4.47, 43% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 1.72% lower over the past week, respectively.

Potential upside of 13.7% exists for Aerohive Network, based on a current level of $4.47 and analysts' average consensus price target of $5.08. Aerohive Network shares have support at the 200-day moving average (MA) of $3.84 and additional support at the 50-day MA of $3.41.

Aerohive Networks, Inc. supplies wireless infrastructure equipment. The Company designs cooperative control wireless architecture, cloud-enabled network management, routing, and virtual private network solutions. Aerohive serves the healthcare, education, manufacturing, distribution, and retail industries throughout the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Aerohive Network on March 8th, 2019 by issuing a Downtrend alert when the shares were trading at $4.37. Since that call, shares of Aerohive Network have fallen 27.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: penny stocks aerohive network

Ticker(s): HIVE