LiveOne (NASDAQ:LVO) Posts Earnings Results, Misses Estimates By $0.34 EPS

LiveOne (NASDAQ:LVO) posted its earnings results on Wednesday. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.34), Zacks reports.

LiveOne Price Performance

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

Analyst Upgrades and Downgrades

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

Institutional Trading of LiveOne

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in LiveOne during the second quarter worth approximately $247,000. No Street GP LP purchased a new stake in LiveOne during the 3rd quarter worth $1,239,000. Marshall Wace LLP purchased a new stake in LiveOne during the 2nd quarter worth $174,000. Acadian Asset Management LLC increased its holdings in LiveOne by 2,891.7% in the 1st quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock valued at $101,000 after purchasing an additional 142,560 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in LiveOne in the second quarter valued at about $87,000. 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.