LiveOne (NASDAQ:LVO) Stock Price Up 0.6% - Here's Why

Key Points

• LiveOne shares rose 0.6% to $5.38 (intraday high $5.70) on Friday, with trading volume of about 53,483 shares, down roughly 41% from its average daily volume.
• The analyst consensus is a Hold with a $12.50 average price target after two Buy ratings and one Sell, including a reaffirmed Buy from Alliance Global Partners at a $12 target and a Sell from Weiss Ratings.
• LiveOne beat the latest quarter's estimates, reporting a loss per share of $0.37 versus an expected $0.45 loss and revenue of $20.26M versus $19.29M, but remains unprofitable with a negative P/E (-2.57) and a market cap of about $67.1M.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report)'s share price rose 0.6% during trading on Friday . The company traded as high as $5.70 and last traded at $5.38. Approximately 53,483 shares were traded during trading, a decline of 41% from the average daily volume of 90,466 shares. The stock had previously closed at $5.35.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LVO. Alliance Global Partners reaffirmed a "buy" rating and set a $12.00 price target on shares of LiveOne in a research report on Thursday, February 12th. Wall Street Zen raised LiveOne from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LiveOne in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.50.

LiveOne Trading Up 0.6%

The firm has a 50-day simple moving average of $5.05 and a two-hundred day simple moving average of $4.82. The company has a market capitalization of $67.09 million, a price-to-earnings ratio of -2.57 and a beta of 1.53.

LiveOne (NASDAQ:LVO - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $20.26 million for the quarter, compared to analyst estimates of $19.29 million. Equities research analysts anticipate that LiveOne, Inc. will post -1.54 EPS for the current year.

Institutional Investors Weigh In On LiveOne

Several hedge funds have recently modified their holdings of LVO. Bank of America Corp DE boosted its stake in shares of LiveOne by 35.4% during the 4th quarter. Bank of America Corp DE now owns 59,595 shares of the company's stock worth $88,000 after acquiring an additional 15,574 shares in the last quarter. Acadian Asset Management LLC boosted its stake 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 acquiring 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 about $174,000. Qube Research & Technologies Ltd purchased a new stake in shares of LiveOne during the 2nd quarter worth about $87,000. Finally, Jane Street Group LLC purchased a new stake in shares of LiveOne during the 2nd quarter worth about $247,000. 21.25% of the stock is owned by hedge funds and other 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.

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