LiveOne (NASDAQ:LVO) Issues Earnings Results

Key Points

• LiveOne reported a quarterly earnings per share (EPS) of ($0.04), beating analysts' expectations of ($0.05) by $0.01, despite lower-than-expected revenue of $19.21 million compared to the anticipated $24.30 million.
• LiveOne's stock experienced a 5.5% increase after the earnings announcement, trading at $0.65 with a market capitalization of approximately $80.59 million.
• Analysts from Wall Street Zen downgraded LiveOne from a "hold" to a "sell" rating, indicating a shift in investment sentiment towards the company.

LiveOne (NASDAQ:LVO - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01, Zacks reports. The firm had revenue of $19.21 million during the quarter, compared to analyst estimates of $24.30 million.

LiveOne Trading Down 2.7%

Shares of LiveOne stock traded down $0.02 during trading on Monday, reaching $0.62. The company's stock had a trading volume of 303,223 shares, compared to its average volume of 549,721. The company has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.78. The firm has a market cap of $76.40 million, a PE ratio of -3.10 and a beta of 1.69. LiveOne has a fifty-two week low of $0.55 and a fifty-two week high of $1.82.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of LiveOne from a "hold" rating to a "sell" rating in a report on Sunday, July 13th.

Hedge Funds Weigh In On LiveOne

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of LiveOne by 95.7% during the 2nd quarter. Bank of America Corp DE now owns 65,945 shares of the company's stock worth $50,000 after purchasing an additional 32,248 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of LiveOne during the 2nd quarter worth $87,000. Acadian Asset Management LLC boosted its position in shares of LiveOne by 2,891.7% during the 1st quarter. Acadian Asset Management LLC now owns 147,490 shares of the company's stock worth $101,000 after purchasing an additional 142,560 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of LiveOne during the 2nd quarter worth $174,000. Finally, Jane Street Group LLC purchased a new stake in shares of LiveOne during the 2nd quarter worth $247,000. 21.25% of the stock is owned by institutional investors and hedge funds.

LiveOne Company Profile

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.