Alliance Global Partners Cuts LiveOne (NASDAQ:LVO) Price Target to $1.50

LiveOne (NASDAQ:LVO) had its price target lowered by Alliance Global Partners from $3.50 to $1.50 in a research report released on Wednesday, Benzinga reports. Alliance Global Partners currently has a buy rating on the stock.

LiveOne Trading Down 1.7 %

NASDAQ:LVO opened at $0.68 on Wednesday. The stock’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $1.63. LiveOne has a 12-month low of $0.64 and a 12-month high of $2.15. The firm has a market cap of $67.29 million, a P/E ratio of -4.25 and a beta of 1.54.

LiveOne (NASDAQ:LVO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $33.08 million for the quarter, compared to analysts’ expectations of $33.10 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Research analysts forecast that LiveOne will post -0.01 EPS for the current fiscal year.

Institutional Trading of LiveOne

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in LiveOne in the first quarter worth $53,000. Vanguard Group Inc. increased its holdings in shares of LiveOne by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 2,871,646 shares of the company’s stock valued at $5,600,000 after purchasing an additional 95,047 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of LiveOne in the 1st quarter valued at about $30,000. Quadrature Capital Ltd acquired a new stake in shares of LiveOne in the first quarter valued at about $34,000. Finally, Bank of New York Mellon Corp boosted its holdings in LiveOne by 588.1% during the second quarter. Bank of New York Mellon Corp now owns 202,024 shares of the company’s stock worth $317,000 after buying an additional 172,665 shares in the last quarter. 21.25% of the stock is owned by institutional investors and hedge funds.

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.