LiveOne (NASDAQ:LVO) Stock Price Up 3.5% – Time to Buy?

LiveOne, Inc. (NASDAQ:LVO) shares shot up 3.5% during mid-day trading on Monday . The stock traded as high as $5.93 and last traded at $5.29. 93,763 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 76,012 shares. The stock had previously closed at $5.11.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LVO. Weiss Ratings restated a “sell (d-)” rating on shares of LiveOne in a research report on Thursday, January 22nd. Wall Street Zen upgraded LiveOne from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Alliance Global Partners reissued a “buy” rating and issued a $12.00 target price on shares of LiveOne in a report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LiveOne presently has an average rating of “Hold” and an average price target of $12.50.

LiveOne Stock Up 4.1%

The stock has a 50 day moving average price of $4.79 and a 200 day moving average price of $4.78.

LiveOne (NASDAQ:LVO) last issued its earnings results on Thursday, February 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $20.26 million during the quarter, compared to analyst estimates of $19.29 million. On average, sell-side analysts predict that LiveOne, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LiveOne

Several hedge funds have recently added to or reduced their stakes in LVO. Rockefeller Capital Management L.P. bought a new stake in LiveOne during the 2nd quarter worth approximately $2,074,000. Jane Street Group LLC bought a new position in shares of LiveOne during the second quarter valued at $247,000. No Street GP LP acquired a new position in shares of LiveOne during the third quarter worth $1,239,000. Marshall Wace LLP bought a new stake in shares of LiveOne in the second quarter worth $174,000. Finally, Acadian Asset Management LLC grew its stake in shares of LiveOne by 2,891.7% in the first quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after purchasing an additional 142,560 shares during the last quarter. 21.25% of the stock is currently owned by institutional investors and hedge funds.

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.