LiveOne (NASDAQ:LVO) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of LiveOne (NASDAQ:LVO) from a hold rating to a sell rating in a research note published on Saturday morning.

Other analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. Alliance Global Partners reiterated a “buy” rating on shares of LiveOne in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, LiveOne presently has an average rating of “Hold” and a consensus target price of $12.50.

LiveOne Stock Performance

Shares of NASDAQ LVO opened at $5.37 on Friday. The firm has a market cap of $72.82 million, a P/E ratio of -2.77 and a beta of 1.60. LiveOne has a 1 year low of $3.70 and a 1 year high of $7.50. The firm’s 50 day moving average price is $5.98 and its 200 day moving average price is $5.25.

LiveOne (NASDAQ:LVO) last posted its quarterly earnings data on Wednesday, June 24th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.34). The firm had revenue of $18.92 million during the quarter, compared to analyst estimates of $19.76 million. As a group, equities analysts predict that LiveOne will post -0.81 EPS for the current year.

Hedge Funds Weigh In On LiveOne

A number of large investors have recently modified their holdings of LVO. Renaissance Technologies LLC raised its stake in shares of LiveOne by 3.7% in the 4th quarter. Renaissance Technologies LLC now owns 64,408 shares of the company’s stock valued at $304,000 after acquiring an additional 2,300 shares during the period. Geode Capital Management LLC boosted its position in LiveOne by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 112,743 shares of the company’s stock worth $532,000 after purchasing an additional 5,985 shares during the period. State Street Corp increased its holdings in LiveOne by 28.2% in the 4th quarter. State Street Corp now owns 33,626 shares of the company’s stock valued at $159,000 after purchasing an additional 7,399 shares in the last quarter. Bank of America Corp DE increased its holdings in LiveOne by 35.4% in the 4th quarter. Bank of America Corp DE now owns 59,595 shares of the company’s stock valued at $88,000 after purchasing an additional 15,574 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in LiveOne in the first quarter valued at about $110,000. 21.25% of the stock is currently owned by hedge funds and other institutional investors.

LiveOne Company Profile

LiveOne, Inc (NASDAQ: LVO) is a digital media and entertainment company specializing in live and on-demand music, podcasts and original content. The company provides streaming access to live concerts, festival performances and exclusive artist-driven programming through its digital platform and mobile applications. Its service offerings include ad-supported free tiers as well as premium subscription packages that deliver high-quality audio and video experiences for music fans worldwide.

The LiveOne platform aggregates a diverse range of content, including live concert streams, curated on-demand playlists, artist interviews and behind-the-scenes footage.