LiveOne (NASDAQ:LVO) Rating Increased to Hold at Wall Street Zen

LiveOne (NASDAQ:LVO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

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

LiveOne Price Performance

Shares of LVO opened at $5.66 on Friday. LiveOne has a one year low of $3.70 and a one year high of $9.12. The firm has a market capitalization of $76.75 million, a P/E ratio of -2.92 and a beta of 1.60. The business has a fifty day moving average of $6.00 and a 200 day moving average of $5.20.

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

Institutional Investors Weigh In On LiveOne

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings 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 buying an additional 2,300 shares in the last quarter. Geode Capital Management LLC grew its stake in LiveOne by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 112,743 shares of the company’s stock valued at $532,000 after acquiring an additional 5,985 shares in the last quarter. 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 acquiring an additional 7,399 shares during 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 acquiring an additional 15,574 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in LiveOne in the 1st quarter worth $110,000. 21.25% of the stock is owned by hedge funds and other institutional investors.

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.