Do Hedge Funds Love Aerohive Networks Inc (HIVE)?

As aggregate interest increased, specific money managers were breaking ground themselves. Glenn Russell Dubinof  Highbridge Capital Management established the largest position in Aerohive Networks Inc (NYSE:HIVE). Highbridge Capital Management had $0.1 million invested in the company at the end of the quarter. Matthew Tewksbury’s Stevens Capital Management also initiated a $0.1 million position during the quarter.

Let’s also examine hedge fund activity in other stocks similar to Aerohive Networks Inc (NYSE:HIVE). These stocks are Bank of Marin Bancorp (NASDAQ:BMRC), Plug Power Inc (NASDAQ:PLUG), Roadrunner Transportation Systems Inc (NYSE:RRTS), and Model N Inc (NYSE:MODN). This group of stocks’ market caps are closest to HIVE’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $41 million. That figure was $29 million in HIVE’s case. Roadrunner Transportation Systems Inc (NYSE:RRTS) is the most popular stock in this table. On the other hand Plug Power Inc (NASDAQ:PLUG) is the least popular one with only 2 bullish hedge fund positions. Aerohive Networks Inc (NYSE:HIVE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RRTS might be a better candidate to consider taking a long position in.

Disclosure: None