Maxim Group Reaffirms Buy Rating for Livexlive Media (NASDAQ:LIVX)

Maxim Group reaffirmed their buy rating on shares of Livexlive Media (NASDAQ:LIVX) in a report issued on Wednesday, AnalystRatings.com reports. The firm currently has a $8.00 price target on the stock.

“For F1Q20, to be reported Tuesday, August 6, we project revenue of $9.6M, +26% y/y, and an adjusted EBITDA loss of ($2.8M).”,” the firm’s analyst wrote.

Several other equities research analysts have also commented on LIVX. Zacks Investment Research lowered Livexlive Media from a hold rating to a sell rating in a research note on Saturday, June 15th. ValuEngine lowered Livexlive Media from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Finally, HC Wainwright restated a buy rating and set a $6.00 price target on shares of Livexlive Media in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $6.56.

NASDAQ:LIVX traded down $0.08 on Wednesday, hitting $2.59. 21,904 shares of the stock were exchanged, compared to its average volume of 102,750. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.57 and a quick ratio of 0.57. The business has a fifty day moving average of $3.24. Livexlive Media has a fifty-two week low of $2.12 and a fifty-two week high of $7.23.

Livexlive Media (NASDAQ:LIVX) last announced its quarterly earnings results on Thursday, June 13th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.04). The firm had revenue of $9.18 million for the quarter, compared to analyst estimates of $13.00 million. Livexlive Media had a negative return on equity of 185.99% and a negative net margin of 110.99%. As a group, research analysts anticipate that Livexlive Media will post -0.5 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Spark Investment Management LLC acquired a new stake in shares of Livexlive Media in the first quarter valued at about $63,000. BNP Paribas Arbitrage SA grew its stake in shares of Livexlive Media by 8,784.7% in the first quarter. BNP Paribas Arbitrage SA now owns 7,552 shares of the company’s stock valued at $41,000 after buying an additional 7,467 shares in the last quarter. Guild Investment Management Inc. acquired a new stake in shares of Livexlive Media in the first quarter valued at about $440,000. Deutsche Bank AG grew its stake in shares of Livexlive Media by 9.3% in the fourth quarter. Deutsche Bank AG now owns 38,553 shares of the company’s stock valued at $190,000 after buying an additional 3,288 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of Livexlive Media by 508.2% in the fourth quarter. American International Group Inc. now owns 19,388 shares of the company’s stock valued at $96,000 after buying an additional 16,200 shares in the last quarter. Institutional investors and hedge funds own 21.79% of the company’s stock.

About Livexlive Media

LiveXLive Media, Inc engages in the acquisition, distribution, and monetization of live music, Internet radio, and music-related streaming and video content. The company operates LiveXLive, a live music streaming platform, as well as Slacker Radio, a streaming music service; and produces original music-related content.

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