LiveOne (NASDAQ:LVO) Stock Price Down 1.2% – Here’s Why

LiveOne, Inc. (NASDAQ:LVO)’s share price was down 1.2% during trading on Tuesday. The stock traded as low as $2.28 and last traded at $2.56. 51,829 shares changed hands during trading, a decline of 51% from the average daily volume of 104,854 shares. The stock had previously closed at $2.59.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LVO shares. UBS Group set a $8.00 price target on shares of LiveOne in a research report on Wednesday, August 12th. Wall Street Zen raised shares of LiveOne from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Alliance Global Partners reiterated a “buy” rating on shares of LiveOne in a report on Tuesday, July 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LiveOne in a research report on Friday, September 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.00.

LiveOne Stock Up 9.0%

The firm has a market cap of $34.82 million, a P/E ratio of -1.45 and a beta of 1.67. The business has a fifty day moving average of $3.37 and a 200 day moving average of $4.73.

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

Institutional Investors Weigh In On LiveOne

An institutional investor recently bought a new stake in LiveOne stock. Integrated Wealth Concepts LLC purchased a new position in shares of LiveOne, Inc. (NASDAQ:LVO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,262 shares of the company’s stock, valued at approximately $53,000. Integrated Wealth Concepts LLC owned 0.06% of LiveOne as of its most recent filing with the Securities and Exchange Commission (SEC). 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 that provides live and on-demand audio and video programming. Its platform features music streaming, live concert and event broadcasts, podcasts, artist and creator content, and other forms of digital entertainment delivered through connected devices and online channels.

The company operates a portfolio of entertainment brands and services, including the LiveOne music and entertainment platform, Slacker Radio and PodcastOne.