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

LiveOne, Inc. (NASDAQ:LVO) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 121,186 shares, a drop of 42.1% from the June 30th total of 209,210 shares. Based on an average trading volume of 36,694 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

LVO has been the subject of several analyst reports. Wall Street Zen downgraded LiveOne from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Alliance Global Partners restated a “buy” rating on shares of LiveOne in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LiveOne in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

LiveOne Stock Down 5.9%

Shares of NASDAQ LVO traded down $0.28 during trading on Wednesday, hitting $4.50. 42,492 shares of the company traded hands, compared to its average volume of 72,628. LiveOne has a 1 year low of $3.70 and a 1 year high of $7.20. The company has a 50-day moving average price of $5.90 and a 200-day moving average price of $5.27. The firm has a market capitalization of $60.97 million, a P/E ratio of -2.32 and a beta of 1.60.

LiveOne (NASDAQ:LVO) last issued its earnings results on Wednesday, June 24th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.34). The company had revenue of $18.92 million during the quarter, compared to analyst estimates of $19.76 million. Research analysts predict that LiveOne will post -0.81 EPS for the current fiscal year.

Institutional Trading of LiveOne

Several large investors have recently added to or reduced their stakes in LVO. Bank of America Corp DE increased its stake in 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 buying an additional 15,574 shares during the period. Acadian Asset Management LLC boosted its position in LiveOne by 2,891.7% during the 1st quarter. Acadian Asset Management LLC now owns 147,490 shares of the company’s stock worth $101,000 after acquiring an additional 142,560 shares during the period. Marshall Wace LLP acquired a new stake in shares of LiveOne in the 2nd quarter worth approximately $174,000. Qube Research & Technologies Ltd acquired a new stake in LiveOne in the second quarter worth approximately $87,000. Finally, Jane Street Group LLC acquired a new stake in shares of LiveOne in the second quarter valued at $247,000. 21.25% of the stock is currently 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.