LiveOne (NASDAQ:LVO) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of LiveOne (NASDAQ:LVO) from a hold rating to a sell rating in a research report report published on Sunday morning.

A number of other analysts have also weighed in on the stock. Alliance Global Partners reiterated a “buy” rating on shares of LiveOne in a report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

LiveOne Stock Up 4.1%

NASDAQ:LVO opened at $4.56 on Friday. The company has a fifty day moving average of $5.43 and a 200 day moving average of $5.29. LiveOne has a 52 week low of $3.70 and a 52 week high of $7.20. The firm has a market capitalization of $62.84 million, a P/E ratio of -2.35 and a beta of 1.66.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of LiveOne in the 2nd quarter worth about $247,000. No Street GP LP purchased a new position in shares of LiveOne during the 3rd quarter worth approximately $1,239,000. Marshall Wace LLP bought a new stake in shares of LiveOne during the second quarter valued at approximately $174,000. Acadian Asset Management LLC grew its stake in LiveOne by 2,891.7% in the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after purchasing an additional 142,560 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in LiveOne in the second quarter worth $87,000. 21.25% of the stock is currently owned by institutional investors.

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.