LiveOne (NASDAQ:LVO) Issues Quarterly Earnings Results

LiveOne (NASDAQ:LVO) issued its quarterly earnings data on Wednesday. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.34), Zacks reports.

LiveOne Stock Performance

LiveOne stock opened at $6.06 on Wednesday. The company’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $5.15. LiveOne has a 1 year low of $3.70 and a 1 year high of $9.20. The company has a market capitalization of $81.63 million, a price-to-earnings ratio of -2.90 and a beta of 1.60.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of LiveOne from a “sell” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, LiveOne currently has an average rating of “Hold” and a consensus price target of $12.50.

Institutional Investors Weigh In On LiveOne

Several large investors have recently modified their holdings of LVO. Bank of America Corp DE raised its stake in shares of LiveOne by 95.7% during the 2nd quarter. Bank of America Corp DE now owns 65,945 shares of the company’s stock worth $50,000 after buying an additional 32,248 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in LiveOne during the 2nd quarter valued at approximately $87,000. Acadian Asset Management LLC increased its holdings in LiveOne by 2,891.7% in the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock valued at $101,000 after buying an additional 142,560 shares during the last quarter. State Street Corp grew its position in shares of LiveOne by 28.2% during the 4th quarter. State Street Corp now owns 33,626 shares of the company’s stock valued at $159,000 after buying an additional 7,399 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in LiveOne in the second quarter worth $174,000. 21.25% of the stock is owned by institutional investors and hedge funds.

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.