LiveOne, Inc. (NASDAQ:LVO) Sees Large Decline in Short Interest

Key Points

• LiveOne’s short interest fell 42.1% to 121,186 shares as of July 15, representing 1.2% of shares outstanding and 3.3 days to cover.
• The stock declined 5.9% to $4.50, while the company reported a quarterly loss of $0.65 per share, missing analyst expectations by $0.34, and revenue of $18.92 million below forecasts.
• Analyst sentiment is mixed, with two Buy ratings and one Sell rating producing a consensus “Hold” rating and a $12.50 price target; institutional investors own 21.25% of the company.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 121,186 shares, a decrease of 42.1% from the June 30th total of 209,210 shares. Based on an average trading volume of 36,694 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.2% of the company's stock are sold short.

LiveOne Stock Down 5.9%

LVO traded down $0.28 on Wednesday, reaching $4.50. The company's stock had a trading volume of 42,492 shares, compared to its average volume of 72,628. The stock has a 50 day moving average of $5.90 and a two-hundred day moving average of $5.27. LiveOne has a fifty-two week low of $3.70 and a fifty-two week high of $7.20. The company has a market capitalization of $60.97 million, a price-to-earnings ratio of -2.32 and a beta of 1.60.

LiveOne (NASDAQ:LVO - Get Free Report) last announced 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 company had revenue of $18.92 million for the quarter, compared to analysts' expectations of $19.76 million. As a group, analysts anticipate that LiveOne will post -0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LVO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of LiveOne in a report on Tuesday, June 9th. Wall Street Zen downgraded LiveOne from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of LiveOne in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, LiveOne presently has a consensus rating of "Hold" and a consensus target price of $12.50.

Hedge Funds Weigh In On LiveOne

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. acquired a new position in shares of LiveOne in the first quarter valued at approximately $110,000. State Street Corp increased its stake 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of LiveOne during the 4th quarter worth $386,000. Renaissance Technologies LLC raised its position in LiveOne by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 64,408 shares of the company's stock worth $304,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in LiveOne by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 112,743 shares of the company's stock valued at $532,000 after buying an additional 5,985 shares in the last quarter. 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.

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