Wall Street Zen Downgrades LiveOne (NASDAQ:LVO) to Sell

Key Points

• Wall Street Zen downgraded LiveOne from hold to sell in a report issued Saturday, adding to a mixed analyst picture on the stock.
• LiveOne’s latest quarter missed expectations, reporting a loss of $0.65 per share versus estimates for a $0.31 loss, while revenue of $18.92 million also came in below forecasts.
• The stock traded at $5.29, giving the company a market cap of about $71.7 million; analysts currently rate it Hold on average with a $12.50 price target.

LiveOne (NASDAQ:LVO - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Other equities analysts have also issued reports about the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of LiveOne in a research report on Tuesday, July 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of LiveOne in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LiveOne currently has an average rating of "Hold" and an average price target of $12.50.

LiveOne Stock Performance

Shares of NASDAQ:LVO opened at $5.29 on Friday. LiveOne has a 52-week low of $3.70 and a 52-week high of $7.50. The company has a market capitalization of $71.73 million, a P/E ratio of -2.73 and a beta of 1.60. The company has a 50-day simple moving average of $5.97 and a 200 day simple moving average of $5.24.

LiveOne (NASDAQ:LVO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.34). The business had revenue of $18.92 million during the quarter, compared to analysts' expectations of $19.76 million. As a group, equities analysts forecast that LiveOne will post -0.81 earnings per share for the current year.

Institutional Trading of LiveOne

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of LiveOne in the fourth quarter worth $386,000. Renaissance Technologies LLC lifted its position in LiveOne by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 64,408 shares of the company's stock worth $304,000 after purchasing an additional 2,300 shares during the period. Geode Capital Management LLC lifted its position in LiveOne by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 112,743 shares of the company's stock worth $532,000 after purchasing an additional 5,985 shares during the period. No Street GP LP acquired a new stake in LiveOne during the third quarter worth about $1,239,000. Finally, Marshall Wace LLP acquired a new stake in LiveOne during the second quarter worth about $174,000. 21.25% of the stock is owned by institutional investors and hedge funds.

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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