LiveOne, Inc. (NASDAQ:LVO) Sees Large Increase in Short Interest

LiveOne, Inc. (NASDAQ:LVO) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 281,424 shares, a growth of 129.6% from the July 30th total of 122,578 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 68,034 shares, the short-interest ratio is currently 4.1 days.

Hedge Funds Weigh In On LiveOne

Several institutional investors have recently made changes to their positions in LVO. Sei Investments Co. bought a new position in LiveOne in the 1st quarter worth $110,000. State Street Corp lifted its position in shares of LiveOne by 28.2% in the fourth quarter. State Street Corp now owns 33,626 shares of the company’s stock worth $159,000 after buying an additional 7,399 shares in the last quarter. Bank of America Corp DE raised 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 worth $88,000 after acquiring an additional 15,574 shares in the last quarter. Renaissance Technologies LLC lifted its position in LiveOne by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 64,408 shares of the company’s stock valued at $304,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of LiveOne in the 4th quarter valued at about $386,000. Institutional investors own 21.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of LiveOne from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. UBS Group set a $8.00 price objective on LiveOne in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LiveOne in a research report on Tuesday, June 9th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of LiveOne in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

LiveOne Stock Performance

Shares of NASDAQ LVO traded down $0.09 during mid-day trading on Friday, hitting $3.87. 35,059 shares of the stock traded hands, compared to its average volume of 71,219. The company has a market cap of $53.07 million, a price-to-earnings ratio of -2.21 and a beta of 1.66. The stock has a fifty day moving average price of $4.87 and a 200-day moving average price of $5.24. LiveOne has a 52 week low of $3.58 and a 52 week high of $7.19.

LiveOne (NASDAQ:LVO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $19.35 million for the quarter, compared to the consensus estimate of $21.23 million. As a group, sell-side analysts predict that LiveOne will post -1.21 EPS for the current fiscal year.

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.