LiveOne (NASDAQ:LVO) Shares Up 0.6% – Here’s What Happened

LiveOne, Inc. (NASDAQ:LVO)’s share price shot up 0.6% during mid-day trading on Friday . The stock traded as high as $5.70 and last traded at $5.38. 53,483 shares changed hands during trading, a decline of 41% from the average session volume of 90,466 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

Several brokerages have recently issued reports on LVO. Alliance Global Partners reaffirmed a “buy” rating and set a $12.00 target price 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 raised LiveOne from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, LiveOne presently has an average rating of “Hold” and a consensus target price of $12.50.

LiveOne Stock Performance

The company has a market cap of $67.09 million, a P/E ratio of -2.57 and a beta of 1.53. The firm has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $4.83.

LiveOne (NASDAQ:LVO) last posted its quarterly earnings results 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 firm had revenue of $20.26 million for the quarter, compared to the consensus estimate of $19.29 million. On average, sell-side analysts predict that LiveOne, Inc. will post -1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LVO. State Street Corp boosted its stake in LiveOne by 28.2% in the 4th quarter. State Street Corp now owns 33,626 shares of the company’s stock worth $159,000 after purchasing an additional 7,399 shares during the period. Jane Street Group LLC bought a new position in LiveOne in the 4th quarter worth about $386,000. Renaissance Technologies LLC boosted its stake in LiveOne by 3.7% in the 4th quarter. Renaissance Technologies LLC now owns 64,408 shares of the company’s stock worth $304,000 after purchasing an additional 2,300 shares during the period. Geode Capital Management LLC boosted its stake in LiveOne by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 112,743 shares of the company’s stock worth $532,000 after purchasing an additional 5,985 shares during the period. Finally, No Street GP LP bought a new position in LiveOne in the 3rd quarter worth about $1,239,000. Institutional investors own 21.25% of the company’s stock.

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.