LiveOne (NASDAQ:LVO) Sees Unusually-High Trading Volume - What's Next?

Key Points

• LiveOne (NASDAQ:LVO) experienced a 10% increase in trading volume, with 64,957 shares traded, and the stock price rose to $4.80 from $4.53.
• A consensus rating for LiveOne among analysts is currently "Buy", with an average target price of $14.00, despite a recent downgrade from some analysts.
• The company's latest earnings report showed a loss of ($0.40) EPS, beating estimates by $0.10, but revenue fell short at $19.21 million against expectations of $24.30 million.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) saw an uptick in trading volume on Friday . 64,957 shares changed hands during trading, an increase of 10% from the previous session's volume of 58,906 shares.The stock last traded at $4.80 and had previously closed at $4.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded LiveOne from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Roth Capital cut their price target on LiveOne from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LiveOne presently has a consensus rating of "Buy" and an average target price of $14.00.

LiveOne Stock Performance

The company has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.69. The stock has a market cap of $542.43 million, a PE ratio of -23.15 and a beta of 1.78.

LiveOne (NASDAQ:LVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.10. The company had revenue of $19.21 million during the quarter, compared to analysts' expectations of $24.30 million. As a group, equities research analysts anticipate that LiveOne, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On LiveOne

Several institutional investors have recently modified their holdings of LVO. Catalyst Funds Management Pty Ltd purchased a new stake in shares of LiveOne during the 2nd quarter worth approximately $25,000. Apollon Wealth Management LLC acquired a new position in shares of LiveOne during the 2nd quarter worth approximately $27,000. Bank of America Corp DE raised 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 during the last quarter. Nuveen LLC acquired a new position in shares of LiveOne during the 1st quarter worth approximately $63,000. Finally, XTX Topco Ltd raised its holdings in LiveOne by 63.3% in the 1st quarter. XTX Topco Ltd now owns 98,207 shares of the company's stock valued at $69,000 after acquiring an additional 38,056 shares during the last quarter. Hedge funds and other institutional investors own 21.25% of the company's stock.

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.

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