LiveOne (NASDAQ:LVO) Downgraded to Sell Rating by Wall Street Zen

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

A number of other equities analysts have also recently commented on LVO. Weiss Ratings reissued a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of LiveOne in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, LiveOne presently has an average rating of “Hold” and an average target price of $12.50.

LiveOne Price Performance

Shares of LVO opened at $5.29 on Friday. LiveOne has a one year low of $3.70 and a one year high of $7.50. The company has a market cap of $71.73 million, a P/E ratio of -2.73 and a beta of 1.60. The firm has a 50 day simple moving average of $5.97 and a two-hundred day simple moving average of $5.24.

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 business had revenue of $18.92 million during the quarter, compared to analysts’ expectations of $19.76 million. On average, analysts expect that LiveOne will post -0.81 earnings per share for the current fiscal year.

Institutional Trading of LiveOne

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of LiveOne by 35.4% during the fourth quarter. Bank of America Corp DE now owns 59,595 shares of the company’s stock worth $88,000 after buying an additional 15,574 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of LiveOne by 2,891.7% during the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after buying an additional 142,560 shares in the last quarter. Marshall Wace LLP bought a new position in shares of LiveOne in the 2nd quarter valued at $174,000. Qube Research & Technologies Ltd bought a new position in shares of LiveOne in the 2nd quarter valued at $87,000. Finally, Jane Street Group LLC acquired a new stake in shares of LiveOne during the 2nd quarter valued at $247,000. Institutional investors and hedge funds own 21.25% of the company’s stock.

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.