LiveOne, Inc. (NASDAQ:LVO) Short Interest Down 42.1% in July

LiveOne, Inc. (NASDAQ:LVO) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 121,186 shares, a decline of 42.1% from the June 30th total of 209,210 shares. Based on an average daily trading volume, of 36,694 shares, the days-to-cover ratio is currently 3.3 days. Approximately 1.2% of the company’s stock are short sold.

Hedge Funds Weigh In On LiveOne

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its holdings in LiveOne by 35.4% during the 4th quarter. Bank of America Corp DE now owns 59,595 shares of the company’s stock worth $88,000 after purchasing an additional 15,574 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in LiveOne by 2,891.7% in the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after acquiring an additional 142,560 shares in the last quarter. State Street Corp grew its position 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 during the period. Jane Street Group LLC bought a new stake in shares of LiveOne during the second quarter worth about $247,000. Finally, Renaissance Technologies LLC raised its stake in shares of LiveOne by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 64,408 shares of the company’s stock worth $304,000 after purchasing an additional 2,300 shares during the last quarter. 21.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LVO shares. Alliance Global Partners reissued a “buy” rating on shares of LiveOne in a research note on Tuesday, July 7th. Wall Street Zen lowered LiveOne from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LiveOne in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

LiveOne Price Performance

NASDAQ:LVO traded up $0.13 during mid-day trading on Thursday, reaching $4.52. The stock had a trading volume of 17,308 shares, compared to its average volume of 72,870. The stock has a market capitalization of $61.51 million, a PE ratio of -2.33 and a beta of 1.60. LiveOne has a 12 month low of $3.70 and a 12 month high of $7.20. The stock has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $5.28.

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

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.