LiveOne, Inc. (NASDAQ:LVO) Short Interest Up 62.6% in August

Key Points

• Short interest for LiveOne, Inc. saw a significant rise of 62.6% in August, totaling 1,160,000 shares, indicating increased bearish sentiment among investors.
• Wall Street Zen has downgraded LiveOne's rating from "hold" to "sell," despite one analyst maintaining a "buy" rating and a consensus price target of $1.50.
• LiveOne reported a loss of ($0.04) earnings per share for the last quarter, beating estimates but falling short of revenue expectations with $19.21 million reported.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,160,000 shares, a growth of 62.6% from the July 31st total of 713,300 shares. Currently, 1.4% of the company's shares are short sold. Based on an average daily volume of 710,800 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 710,800 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.4% of the company's shares are short sold.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded LiveOne from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $1.50.

Hedge Funds Weigh In On LiveOne

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd bought a new stake in shares of LiveOne during the 2nd quarter valued at $25,000. Apollon Wealth Management LLC purchased a new position in LiveOne during the 2nd quarter valued at about $27,000. Bank of America Corp DE boosted its stake in LiveOne by 95.7% during 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. Price T Rowe Associates Inc. MD grew its holdings in LiveOne by 63.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,954 shares of the company's stock worth $53,000 after purchasing an additional 13,900 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in LiveOne by 55.5% in the fourth quarter. Wells Fargo & Company MN now owns 38,201 shares of the company's stock worth $56,000 after purchasing an additional 13,629 shares during the period. Hedge funds and other institutional investors own 21.25% of the company's stock.

LiveOne Trading Up 3.0%

LiveOne stock traded up $0.01 during trading hours on Wednesday, hitting $0.51. 770,360 shares of the stock traded hands, compared to its average volume of 802,944. LiveOne has a one year low of $0.43 and a one year high of $1.60. The firm's 50-day moving average price is $0.65 and its two-hundred day moving average price is $0.71. The company has a market cap of $58.62 million, a PE ratio of -2.54 and a beta of 1.78.

LiveOne (NASDAQ:LVO - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $19.21 million during the quarter, compared to the consensus estimate of $24.30 million. On average, sell-side analysts expect that LiveOne will post -0.1 earnings per share for the current fiscal year.

About LiveOne

LiveOne, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, podcasting/vodcasting, and music-related streaming and video content. It operates LiveXLive, a live music streaming platform; PodcastOne, a podcasting platform; and Slacker, an integrated membership and advertising streaming music service, as well as produces original music-related content.