LiveOne (NASDAQ:LVO) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded LiveOne from “sell” to “hold.” Analysts are mixed overall, with two Buy ratings and one Sell rating; MarketBeat reports an average Hold rating and an $11.00 target price.
• LiveOne shares opened at $3.97, with a $54.44 million market capitalization and a 52-week range of $3.58 to $7.19. The company recently reported a quarterly loss of $0.21 per share, better than estimates, while revenue of $19.35 million fell short of expectations.
• Institutional ownership stands at 21.25%, with several investors recently increasing or initiating positions, including Bank of America, Acadian Asset Management and State Street.

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

A number of other brokerages have also recently weighed in on LVO. UBS Group set a $8.00 price target on LiveOne in a research report on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of LiveOne in a research note on Tuesday, June 9th. Finally, Alliance Global Partners reissued a "buy" rating on shares of LiveOne in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.00.

LiveOne Stock Performance

Shares of NASDAQ LVO opened at $3.97 on Friday. The firm has a market capitalization of $54.44 million, a P/E ratio of -2.27 and a beta of 1.66. LiveOne has a one year low of $3.58 and a one year high of $7.19. The company's fifty day moving average is $5.05 and its two-hundred day moving average is $5.25.

LiveOne (NASDAQ:LVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.03. The company had revenue of $19.35 million during the quarter, compared to analysts' expectations of $21.23 million. On average, sell-side analysts forecast that LiveOne will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of LiveOne

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of 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 purchasing an additional 32,248 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of LiveOne in the second quarter valued at about $87,000. Acadian Asset Management LLC raised its holdings 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 valued at $101,000 after buying an additional 142,560 shares during the period. Sei Investments Co. purchased a new stake in shares of LiveOne during the 1st quarter valued at about $110,000. Finally, State Street Corp lifted its position in LiveOne by 28.2% during the 4th quarter. State Street Corp now owns 33,626 shares of the company's stock worth $159,000 after acquiring an additional 7,399 shares in the last quarter. 21.25% of the stock is currently owned by institutional investors and hedge funds.

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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