LiveOne, Inc. (NASDAQ:LVO – Get Free Report) was the target 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 volume of 36,694 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.2% of the shares of the stock are short sold.
Institutional Investors Weigh In On LiveOne
Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in shares of LiveOne during the 2nd quarter valued at about $247,000. No Street GP LP acquired a new position in LiveOne in the third quarter worth about $1,239,000. Marshall Wace LLP bought a new position in LiveOne during the second quarter worth about $174,000. Acadian Asset Management LLC boosted its holdings in LiveOne by 2,891.7% during the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock valued at $101,000 after purchasing an additional 142,560 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of LiveOne in the 2nd quarter valued at $87,000. Institutional investors own 21.25% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on LVO shares. Alliance Global Partners reaffirmed a “buy” rating on shares of LiveOne in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of LiveOne from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Finally, 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.50.
LiveOne Trading Up 0.4%
NASDAQ:LVO traded up $0.02 during mid-day trading on Friday, hitting $4.54. 8,161 shares of the company’s stock traded hands, compared to its average volume of 72,662. The firm has a 50 day moving average of $5.82 and a two-hundred day moving average of $5.28. LiveOne has a 12 month low of $3.70 and a 12 month high of $7.20. The firm has a market capitalization of $61.79 million, a price-to-earnings ratio of -2.34 and a beta of 1.60.
LiveOne (NASDAQ:LVO – Get Free Report) last issued its quarterly earnings results on Wednesday, June 24th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.34). The business had revenue of $18.92 million during the quarter, compared to the consensus estimate of $19.76 million. As a group, equities research analysts expect that LiveOne will post -0.81 earnings per share 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.
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