LiveOne (NASDAQ:LVO) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded LiveOne from “hold” to “sell,” while the broader analyst consensus remains “hold” with a $12.50 price target.
• LiveOne reported a quarterly loss of $0.65 per share, missing the $0.31 consensus estimate, while revenue of $18.92 million also fell short of expectations.
• Shares opened at $4.22, near the lower end of their $3.70–$7.20 one-year range; institutional investors own 21.25% of the company.

LiveOne (NASDAQ:LVO - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.

Several other brokerages have also recently issued reports on LVO. Weiss Ratings restated a "sell (d-)" rating on shares of LiveOne in a research note on Tuesday, June 9th. Alliance Global Partners reissued a "buy" rating on shares of LiveOne in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.50.

LiveOne Stock Performance

Shares of LiveOne stock opened at $4.22 on Friday. LiveOne has a 1 year low of $3.70 and a 1 year high of $7.20. The company has a market capitalization of $58.15 million, a P/E ratio of -2.18 and a beta of 1.66. The company's fifty day moving average is $5.51 and its two-hundred day moving average is $5.28.

LiveOne (NASDAQ:LVO - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $19.76 million. As a group, equities analysts expect that LiveOne will post -0.81 earnings per share for the current year.

Institutional Investors Weigh In On LiveOne

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in shares of LiveOne by 3.7% in the fourth quarter. Renaissance Technologies LLC now owns 64,408 shares of the company's stock worth $304,000 after buying an additional 2,300 shares during the period. Geode Capital Management LLC raised its stake in shares of LiveOne by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 112,743 shares of the company's stock worth $532,000 after purchasing an additional 5,985 shares in the last quarter. State Street Corp raised its position in LiveOne by 28.2% during the fourth quarter. State Street Corp now owns 33,626 shares of the company's stock valued at $159,000 after acquiring an additional 7,399 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of 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 last quarter. Finally, Sei Investments Co. bought a new stake in shares of LiveOne during the 1st quarter worth about $110,000. 21.25% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source