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

Key Points

• Short interest in LiveOne, Inc. decreased by 40.6% in July, with totals falling from 1,200,000 shares to 713,300 shares, indicating only 0.9% of the company's shares are sold short.
• Wall Street Zen has lowered LiveOne's rating from "hold" to "sell", reflecting concerns about the company's performance.
• LiveOne reported a quarterly earnings per share (EPS) of (0.04), slightly beating analyst estimates, but revenue was below expectations at $19.21 million.

LiveOne, Inc. (NASDAQ:LVO - Get Free Report) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 713,300 shares, adropof40.6% from the July 15th total of 1,200,000 shares. Based on an average trading volume of 626,400 shares, the days-to-cover ratio is currently 1.1 days. Approximately0.9% of the company's stock are short sold. Approximately0.9% of the company's stock are short sold. Based on an average trading volume of 626,400 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of LiveOne

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new stake in LiveOne during the 2nd quarter valued at approximately $2,074,000. Northern Trust Corp lifted its position in LiveOne by 4.6% during the fourth quarter. Northern Trust Corp now owns 637,675 shares of the company's stock valued at $937,000 after purchasing an additional 27,890 shares during the period. Jane Street Group LLC acquired a new position in LiveOne during the second quarter valued at $247,000. Y Intercept Hong Kong Ltd purchased a new stake in LiveOne in the second quarter valued at $230,000. Finally, JPMorgan Chase & Co. boosted its holdings in LiveOne by 678.0% in the fourth quarter. JPMorgan Chase & Co. now owns 255,066 shares of the company's stock valued at $375,000 after purchasing an additional 222,282 shares during the last quarter. Institutional investors own 21.25% of the company's stock.

LiveOne Price Performance

NASDAQ:LVO traded down $0.0239 on Wednesday, reaching $0.5870. 615,812 shares of the company's stock traded hands, compared to its average volume of 587,391. The stock has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $0.77. LiveOne has a 12 month low of $0.55 and a 12 month high of $1.8150.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of LiveOne from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $1.50.

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.