LiveOne (NASDAQ:LVO) Share Price Crosses Above 50-Day Moving Average After Earnings Miss

LiveOne, Inc. (NASDAQ:LVO)’s stock price crossed above its 50 day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 50 day moving average of $2.84 and traded as high as $3.29. LiveOne shares last traded at $2.91, with a volume of 75,511 shares changing hands.

The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04). The business had revenue of $17.97 million for the quarter, compared to the consensus estimate of $19.90 million.

Analysts Set New Price Targets

Several research analysts recently weighed in on LVO shares. Wall Street Zen raised LiveOne from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded LiveOne from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, October 19th. Finally, UBS Group set a $8.00 price target on LiveOne in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LiveOne currently has an average rating of “Hold” and an average target price of $10.00.

Institutional Trading of LiveOne

An institutional investor recently bought a new stake in LiveOne stock. Integrated Wealth Concepts LLC acquired a new stake in LiveOne, Inc. (NASDAQ:LVO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,262 shares of the company’s stock, valued at approximately $53,000. Integrated Wealth Concepts LLC owned 0.06% of LiveOne at the end of the most recent reporting period. Institutional investors and hedge funds own 21.25% of the company’s stock.

LiveOne Price Performance

The firm has a 50-day simple moving average of $2.84 and a 200 day simple moving average of $4.56. The company has a market capitalization of $39.90 million, a PE ratio of -1.66 and a beta of 1.81.

About LiveOne

LiveOne, Inc. (NASDAQ: LVO) is a digital media and entertainment company that develops and distributes music, podcasting, and live-event content. Its offerings are designed to provide consumers with access to streaming audio, original programming, digital radio, and interactive entertainment experiences across connected devices. The company operates the LiveOne platform, which features music and live entertainment programming, including livestreamed concerts, festivals, and other artist-focused events.