LiveOne (NASDAQ:LVO) Stock Price Down 6.1% – Here’s Why

LiveOne, Inc. (NASDAQ:LVO)’s stock price traded down 6.1% on Tuesday . The stock traded as low as $0.62 and last traded at $0.62. 315,936 shares were traded during trading, a decline of 35% from the average session volume of 485,089 shares. The stock had previously closed at $0.66.

LiveOne Stock Performance

The business’s fifty day moving average is $0.78 and its 200-day moving average is $0.91. The firm has a market cap of $61.50 million, a P/E ratio of -4.92 and a beta of 2.12.

LiveOne (NASDAQ:LVO) last announced its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $29.45 million for the quarter, compared to the consensus estimate of $32.69 million. Analysts predict that LiveOne, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in LiveOne by 6.8% during the fourth quarter. Bank of New York Mellon Corp now owns 163,787 shares of the company’s stock worth $241,000 after buying an additional 10,425 shares during the last quarter. Barclays PLC lifted its stake in shares of LiveOne by 10.9% in the 4th quarter. Barclays PLC now owns 117,956 shares of the company’s stock valued at $173,000 after purchasing an additional 11,548 shares during the period. Wells Fargo & Company MN boosted its position in shares of LiveOne by 55.5% during the 4th quarter. Wells Fargo & Company MN now owns 38,201 shares of the company’s stock valued at $56,000 after purchasing an additional 13,629 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in LiveOne by 63.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,954 shares of the company’s stock worth $53,000 after purchasing an additional 13,900 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in LiveOne by 35.4% in the fourth quarter. Bank of America Corp DE now owns 59,595 shares of the company’s stock valued at $88,000 after buying an additional 15,574 shares during the period. Institutional investors and hedge funds own 21.25% of the company’s stock.

About LiveOne

LiveOne, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, podcasting/vodcasting, and music-related streaming and video content. It operates LiveXLive, a live music streaming platform; PodcastOne, a podcasting platform; and Slacker, an integrated membership and advertising streaming music service, as well as produces original music-related content.