LiveOne (NASDAQ:LVO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of LiveOne (NASDAQ:LVO) from a sell rating to a hold rating in a research report released on Saturday.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of LiveOne in a report on Tuesday, June 9th. UBS Group set a $8.00 price target on shares of LiveOne in a report on Wednesday, August 12th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of LiveOne in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, LiveOne has a consensus rating of “Hold” and a consensus target price of $11.00.

LiveOne Trading Up 5.9%

NASDAQ LVO opened at $3.97 on Friday. The stock has a market capitalization of $54.43 million, a price-to-earnings ratio of -2.27 and a beta of 1.66. The business’s 50 day moving average is $5.05 and its two-hundred day moving average is $5.25. LiveOne has a 12-month low of $3.58 and a 12-month high of $7.19.

LiveOne (NASDAQ:LVO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $19.35 million during the quarter, compared to analyst estimates of $21.23 million. Equities analysts forecast that LiveOne will post -1.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LiveOne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its stake in LiveOne by 95.7% in the 2nd quarter. Bank of America Corp DE now owns 65,945 shares of the company’s stock valued at $50,000 after buying an additional 32,248 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in LiveOne in the 2nd quarter worth about $87,000. Acadian Asset Management LLC boosted its position 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 acquiring an additional 142,560 shares during the last quarter. Sei Investments Co. acquired a new position in shares of LiveOne in the 1st quarter valued at $110,000. Finally, State Street Corp grew its position in LiveOne by 28.2% during the fourth quarter. State Street Corp now owns 33,626 shares of the company’s stock valued at $159,000 after acquiring an additional 7,399 shares during the period. Institutional investors and hedge funds own 21.25% of the company’s stock.

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.