LiveOne (NASDAQ:LVO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of LiveOne (NASDAQ:LVO) from a sell rating to a hold rating in a research note published on Saturday.

Several other brokerages have also issued reports on LVO. Weiss Ratings restated a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of LiveOne in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.50.

LiveOne Stock Down 1.3%

LVO stock opened at $4.42 on Friday. LiveOne has a 52-week low of $3.70 and a 52-week high of $7.20. The stock has a market cap of $60.91 million, a price-to-earnings ratio of -2.28 and a beta of 1.66. The business has a fifty day moving average of $5.72 and a two-hundred day moving average of $5.29.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of LiveOne by 95.7% in 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 period. Qube Research & Technologies Ltd purchased a new position in LiveOne during the 2nd quarter valued at about $87,000. Acadian Asset Management LLC boosted its holdings in LiveOne by 2,891.7% during the 1st quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock valued at $101,000 after acquiring an additional 142,560 shares during the period. Sei Investments Co. acquired a new position in LiveOne in the 1st quarter valued at about $110,000. Finally, State Street Corp grew its position in 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 in the last quarter. 21.25% of the stock is currently owned by hedge funds and other institutional investors.

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.