LiveOne, Inc. (NASDAQ:LVO) Short Interest Update

Key Points

• LiveOne’s short interest surged 129.6% to 281,424 shares as of August 14, representing about 2.6% of shares outstanding and a 4.1-day days-to-cover ratio.
• The stock fell 2.3% to $3.87, near its 12-month low. In its latest quarter, LiveOne reported a narrower-than-expected loss of $0.21 per share but revenue of $19.35 million, below the $21.23 million consensus estimate.
• Institutional ownership stands at 21.25% after several hedge funds initiated or increased positions. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $11.00.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 281,424 shares, an increase of 129.6% from the July 30th total of 122,578 shares. Approximately 2.6% of the company's shares are short sold. Based on an average daily volume of 68,034 shares, the days-to-cover ratio is currently 4.1 days.

LiveOne Stock Down 2.3%

Shares of NASDAQ:LVO traded down $0.09 during midday trading on Friday, hitting $3.87. The stock had a trading volume of 35,059 shares, compared to its average volume of 71,219. The company has a market cap of $53.07 million, a P/E ratio of -2.21 and a beta of 1.66. The business's 50-day simple moving average is $4.87 and its 200-day simple moving average is $5.24. LiveOne has a 12 month low of $3.58 and a 12 month high of $7.19.

LiveOne (NASDAQ:LVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.03. The business had revenue of $19.35 million during the quarter, compared to the consensus estimate of $21.23 million. As a group, equities analysts predict that LiveOne will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of LiveOne during the 2nd quarter valued at $247,000. No Street GP LP bought a new position in LiveOne during the 3rd quarter valued at $1,239,000. Marshall Wace LLP bought a new position in shares of LiveOne during the second quarter valued at about $174,000. Acadian Asset Management LLC lifted its position 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 buying an additional 142,560 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in LiveOne during the second quarter worth $87,000. Institutional investors own 21.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LVO shares. Wall Street Zen upgraded LiveOne from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of LiveOne in a research note on Tuesday, June 9th. UBS Group set a $8.00 price objective on shares of LiveOne in a report on Wednesday, August 12th. Finally, Alliance Global Partners reaffirmed 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 company's stock. Based on data from MarketBeat, LiveOne currently has an average rating of "Hold" and an average target price of $11.00.

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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