LiveOne (NASDAQ:LVO) Downgraded by Wall Street Zen to Sell

LiveOne (NASDAQ:LVO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

LiveOne Stock Down 1.9%

Shares of NASDAQ:LVO opened at $0.76 on Friday. The company’s fifty day moving average is $0.79 and its two-hundred day moving average is $0.88. LiveOne has a 12-month low of $0.55 and a 12-month high of $1.82. The company has a market cap of $72.60 million, a P/E ratio of -4.20 and a beta of 1.62.

LiveOne (NASDAQ:LVO) last issued its quarterly earnings results on Wednesday, June 18th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $19.29 million for the quarter, compared to analysts’ expectations of $22.80 million. Equities research analysts anticipate that LiveOne will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fleming James B JR purchased a new stake in shares of LiveOne during the 4th quarter worth about $2,699,000. Northern Trust Corp increased its holdings in LiveOne by 4.6% in the fourth quarter. Northern Trust Corp now owns 637,675 shares of the company’s stock worth $937,000 after buying an additional 27,890 shares during the last quarter. JPMorgan Chase & Co. raised its position in LiveOne by 678.0% during the fourth quarter. JPMorgan Chase & Co. now owns 255,066 shares of the company’s stock valued at $375,000 after acquiring an additional 222,282 shares in the last quarter. Alpine Global Management LLC raised its position in LiveOne by 33.3% during the first quarter. Alpine Global Management LLC now owns 200,000 shares of the company’s stock valued at $140,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Pingora Partners LLC lifted its stake in LiveOne by 175.5% in the first quarter. Pingora Partners LLC now owns 176,425 shares of the company’s stock valued at $123,000 after acquiring an additional 112,385 shares during the last quarter. Institutional investors and hedge funds own 21.25% of the company’s stock.

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.