LiveOne (NASDAQ:LVO) Stock Rating Lowered by Wall Street Zen

LiveOne (NASDAQ:LVO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of LiveOne in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, LiveOne presently has a consensus rating of “Hold” and a consensus price target of $12.50.

LiveOne Price Performance

NASDAQ LVO opened at $6.20 on Friday. LiveOne has a 12 month low of $3.70 and a 12 month high of $9.20. The company has a market capitalization of $83.51 million, a P/E ratio of -3.20 and a beta of 1.60. The company’s 50 day simple moving average is $5.87 and its 200 day simple moving average is $5.17.

LiveOne (NASDAQ:LVO) last issued its 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 company had revenue of $18.92 million for the quarter, compared to analysts’ expectations of $19.76 million. On average, analysts anticipate that LiveOne will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of LiveOne by 95.7% in the second quarter. Bank of America Corp DE now owns 65,945 shares of the company’s stock worth $50,000 after acquiring an additional 32,248 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of LiveOne in the 2nd quarter valued at approximately $87,000. Acadian Asset Management LLC boosted its stake in LiveOne by 2,891.7% in the 1st quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after purchasing an additional 142,560 shares during the period. Sei Investments Co. purchased a new position in LiveOne during the 1st quarter worth approximately $110,000. Finally, State Street Corp grew its position in LiveOne by 28.2% during the 4th quarter. State Street Corp now owns 33,626 shares of the company’s stock worth $159,000 after purchasing an additional 7,399 shares in the last quarter. 21.25% of the stock is currently owned by institutional investors and hedge funds.

About LiveOne

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.