LiveOne, Inc. (NASDAQ:LVO) Sees Significant Growth in Short Interest

LiveOne, Inc. (NASDAQ:LVO) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,610,000 shares, an increase of 23.7% from the January 31st total of 2,110,000 shares. Based on an average trading volume of 568,900 shares, the days-to-cover ratio is currently 4.6 days. Approximately 2.9% of the shares of the company are short sold.

LiveOne Trading Down 8.5 %

LiveOne stock traded down $0.07 during mid-day trading on Friday, hitting $0.72. The company had a trading volume of 104,035 shares, compared to its average volume of 577,987. The company’s fifty day moving average is $1.10 and its 200-day moving average is $1.08. LiveOne has a 12-month low of $0.56 and a 12-month high of $2.15. The company has a market capitalization of $69.57 million, a price-to-earnings ratio of -5.51 and a beta of 1.66.

LiveOne (NASDAQ:LVO) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $29.45 million for the quarter, compared to analyst estimates of $32.69 million. As a group, sell-side analysts expect that LiveOne will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On LiveOne

A number of institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new position in LiveOne in the 4th quarter valued at about $26,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in LiveOne in the third quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 13,900 shares during the period. Wells Fargo & Company MN grew its position in LiveOne by 55.5% in the fourth quarter. Wells Fargo & Company MN now owns 38,201 shares of the company’s stock worth $56,000 after acquiring an additional 13,629 shares during the period. Finally, Mariner LLC acquired a new stake in LiveOne during the fourth quarter worth $62,000. Hedge funds and other institutional investors own 21.25% of the company’s stock.

LiveOne Company Profile

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.