LiveOne (NASDAQ:LVO) Announces 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) posted its quarterly earnings data on Wednesday. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01, Zacks reports. The firm had revenue of $19.21 million for the quarter, compared to analysts' expectations of $24.30 million.

LiveOne Stock Up 5.5%

LVO stock traded up $0.03 during midday trading on Wednesday, hitting $0.65. 821,053 shares of the company traded hands, compared to its average volume of 741,341. LiveOne has a twelve month low of $0.55 and a twelve month high of $1.82. The business has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $0.79. The stock has a market capitalization of $80.59 million, a price-to-earnings ratio of -3.63 and a beta of 1.69.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On LiveOne

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new stake in LiveOne in the 2nd quarter valued at $174,000. Acadian Asset Management LLC boosted its holdings in LiveOne by 2,891.7% in the 1st 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 during the period. Finally, Bank of America Corp DE boosted 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 purchasing an additional 15,574 shares during the period. Institutional investors and hedge funds own 21.25% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.