LiveOne (NASDAQ:LVO) Stock Price Down 5% – Here’s Why

Shares of LiveOne, Inc. (NASDAQ:LVO) traded down 5% during mid-day trading on Monday . The company traded as low as $4.71 and last traded at $4.89. 107,470 shares traded hands during trading, an increase of 14% from the average session volume of 93,915 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LVO shares. Roth Capital lowered their target price on LiveOne from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, September 15th. Weiss Ratings restated a “sell (d-)” rating on shares of LiveOne in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.00.

LiveOne Stock Down 5.0%

The firm has a market capitalization of $56.87 million, a P/E ratio of -2.11 and a beta of 1.67. The business’s 50 day moving average is $4.82 and its two-hundred day moving average is $5.94.

LiveOne (NASDAQ:LVO) last released its earnings results on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.07). The business had revenue of $18.76 million for the quarter, compared to analysts’ expectations of $19.68 million. As a group, equities analysts anticipate that LiveOne, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LVO. Catalyst Funds Management Pty Ltd bought a new stake in shares of LiveOne in the 2nd quarter worth approximately $25,000. Apollon Wealth Management LLC acquired a new stake in LiveOne during the second quarter valued at $27,000. Bank of America Corp DE lifted its holdings in shares of LiveOne by 95.7% during the 2nd quarter. Bank of America Corp DE now owns 65,945 shares of the company’s stock valued at $50,000 after buying an additional 32,248 shares during the last quarter. Nuveen LLC bought a new stake in LiveOne in the first quarter worth approximately $63,000. Finally, Qube Research & Technologies Ltd bought a new stake in LiveOne in the second quarter worth $87,000. 21.25% of the stock is owned by institutional investors and hedge funds.

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.