LiveOne, Inc. (NASDAQ:LVO) Sees Significant Decline in Short Interest

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 670,300 shares, a decrease of 78.9% from the April 15th total of 3,180,000 shares. Based on an average daily trading volume, of 327,100 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.7% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Litchfield Hills Research restated a "buy" rating and issued a $4.00 target price on shares of LiveOne in a research note on Friday, April 12th.

LiveOne Price Performance

NASDAQ:LVO traded down $0.07 during trading hours on Friday, hitting $1.80. The stock had a trading volume of 172,442 shares, compared to its average volume of 290,463. The firm has a market capitalization of $177.46 million, a price-to-earnings ratio of -9.79 and a beta of 1.71. LiveOne has a one year low of $0.84 and a one year high of $2.19. The company has a 50 day simple moving average of $1.86 and a two-hundred day simple moving average of $1.46.

LiveOne (NASDAQ:LVO - Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $31.25 million for the quarter, compared to analysts' expectations of $31.53 million. Equities research analysts anticipate that LiveOne will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On LiveOne

Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of LiveOne by 1.6% in the 3rd quarter. FMR LLC now owns 7,042,283 shares of the company's stock valued at $6,734,000 after purchasing an additional 109,383 shares in the last quarter. Vanguard Group Inc. lifted its position in LiveOne by 3.4% in the first quarter. Vanguard Group Inc. now owns 2,871,646 shares of the company's stock valued at $5,600,000 after purchasing an additional 95,047 shares during the last quarter. Redmond Asset Management LLC boosted its stake in shares of LiveOne by 71.1% during the first quarter. Redmond Asset Management LLC now owns 377,406 shares of the company's stock valued at $736,000 after purchasing an additional 156,891 shares during the period. Citigroup Inc. bought a new position in shares of LiveOne in the third quarter worth approximately $121,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of LiveOne by 83.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 121,198 shares of the company's stock worth $168,000 after buying an additional 55,092 shares during the period. 21.25% of the stock is currently owned by institutional investors.

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.