Roth Capital Issues Pessimistic Forecast for LiveOne (NASDAQ:LVO) Stock Price

Key Points

• Roth Capital has lowered its target price for LiveOne (NASDAQ:LVO) from $1.50 to $1.30, suggesting a potential upside of 142.09% from its current trading price.
• Wall Street Zen downgraded LiveOne's rating from "hold" to "sell," while two other analysts maintained a "buy" rating for the stock.
• During mid-day trading, LiveOne's stock price declined to $0.54, with a reported earnings per share of ($0.04) for the latest quarter, which exceeded expectations but saw lower revenue than anticipated.

LiveOne (NASDAQ:LVO - Get Free Report) had its target price dropped by stock analysts at Roth Capital from $1.50 to $1.30 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Roth Capital's price target would suggest a potential upside of 142.09% from the company's current price.

Separately, Wall Street Zen downgraded shares of LiveOne from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $1.40.

LiveOne Stock Performance

NASDAQ:LVO traded down $0.04 during mid-day trading on Monday, reaching $0.54. 713,909 shares of the company's stock were exchanged, compared to its average volume of 586,195. LiveOne has a one year low of $0.43 and a one year high of $1.60. The firm has a market capitalization of $61.98 million, a PE ratio of -2.69 and a beta of 1.78. The business's fifty day simple moving average is $0.63 and its two-hundred day simple moving average is $0.71.

LiveOne (NASDAQ:LVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The company had revenue of $19.21 million during the quarter, compared to analyst estimates of $24.30 million. As a group, equities research analysts forecast that LiveOne will post -0.1 EPS for the current year.

Hedge Funds Weigh In On LiveOne

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of LiveOne during the 2nd quarter valued at about $2,074,000. Northern Trust Corp raised its holdings in shares of LiveOne by 4.6% during the 4th quarter. Northern Trust Corp now owns 637,675 shares of the company's stock worth $937,000 after acquiring an additional 27,890 shares in the last quarter. Jane Street Group LLC bought a new position in shares of LiveOne during the 2nd quarter valued at approximately $247,000. Y Intercept Hong Kong Ltd bought a new position in shares of LiveOne during the 2nd quarter valued at approximately $230,000. Finally, Marshall Wace LLP bought a new position in LiveOne in the 2nd quarter valued at $174,000. 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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