LiveOne (NASDAQ:LVO) Trading Up 2.1%

Shares of LiveOne, Inc. (NASDAQ:LVO) shot up 2.1% during trading on Thursday . The company traded as high as $1.48 and last traded at $1.47. 161,951 shares changed hands during trading, a decline of 79% from the average session volume of 757,111 shares. The stock had previously closed at $1.44.

Wall Street Analysts Forecast Growth

Separately, Litchfield Hills Research reaffirmed a “buy” rating and set a $4.00 target price on shares of LiveOne in a research note on Friday, April 12th.

LiveOne Price Performance

The business’s 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.64. The company has a market capitalization of $145.47 million, a PE ratio of -9.19 and a beta of 1.60.

LiveOne (NASDAQ:LVO) last issued its earnings results on Thursday, May 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $30.90 million for the quarter, compared to the consensus estimate of $30.30 million. As a group, analysts anticipate that LiveOne, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On LiveOne

A number of institutional investors and hedge funds have recently made changes to their positions in LVO. FMR LLC raised its stake in shares of LiveOne by 1.6% in the 3rd quarter. FMR LLC now owns 7,042,283 shares of the company’s stock valued at $6,734,000 after acquiring an additional 109,383 shares during the period. Alpine Global Management LLC acquired a new position in shares of LiveOne in the third quarter valued at approximately $72,000. Citigroup Inc. acquired a new position in shares of LiveOne in the third quarter valued at approximately $121,000. Exchange Traded Concepts LLC grew its holdings in shares of LiveOne by 83.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 121,198 shares of the company’s stock valued at $168,000 after purchasing an additional 55,092 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of LiveOne in the first quarter valued at approximately $53,000. 21.25% of the stock is owned by hedge funds and other institutional investors.

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.