LiveOne (NASDAQ:LVO) Trading Up 3.5% – Here’s Why

LiveOne, Inc. (NASDAQ:LVO) shares rose 3.5% during trading on Monday . The company traded as high as $5.93 and last traded at $5.29. Approximately 93,763 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 76,012 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

LVO has been the subject of several research reports. Alliance Global Partners restated a “buy” rating and set a $12.00 price objective on shares of LiveOne in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LiveOne in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded LiveOne from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.50.

LiveOne Stock Up 3.5%

The firm has a market capitalization of $61.63 million, a price-to-earnings ratio of -2.53 and a beta of 1.61. The company’s 50 day moving average is $4.78 and its 200 day moving average is $4.78.

LiveOne (NASDAQ:LVO) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The business had revenue of $20.26 million during the quarter, compared to analyst estimates of $19.29 million. On average, analysts expect that LiveOne, Inc. will post -0.1 EPS for the current year.

Institutional Trading of LiveOne

A number of hedge funds have recently added to or reduced their stakes in LVO. Beacon Financial Advisory LLC bought a new stake in shares of LiveOne during the third quarter worth $97,000. State Street Corp lifted its stake in shares of LiveOne by 28.2% in the 4th quarter. State Street Corp now owns 33,626 shares of the company’s stock valued at $159,000 after acquiring an additional 7,399 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in shares of LiveOne in the 2nd quarter valued at $25,000. Bank of America Corp DE boosted its holdings in shares of LiveOne by 35.4% during the 4th quarter. Bank of America Corp DE now owns 59,595 shares of the company’s stock valued at $88,000 after acquiring an additional 15,574 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of LiveOne by 3.7% during the 4th quarter. Renaissance Technologies LLC now owns 64,408 shares of the company’s stock valued at $304,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 21.25% of the company’s stock.

LiveOne Company Profile

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.