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

LiveOne (NASDAQ:LVO) had its target price cut by stock analysts at Alliance Global Partners from $3.50 to $1.50 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Alliance Global Partners’ price target indicates a potential upside of 111.42% from the stock’s current price.

LiveOne Trading Down 2.8 %

LVO stock traded down $0.02 during trading hours on Wednesday, hitting $0.71. 1,281,827 shares of the stock were exchanged, compared to its average volume of 386,331. The firm has a market capitalization of $70.21 million, a P/E ratio of -4.56 and a beta of 1.56. The company has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $1.65. LiveOne has a 12 month low of $0.64 and a 12 month high of $2.15.

LiveOne (NASDAQ:LVO) last released its earnings results on Tuesday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $33.08 million during the quarter, compared to the consensus estimate of $33.10 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, equities research analysts predict that LiveOne will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Perritt Capital Management Inc increased its stake in LiveOne by 740.0% in the 2nd quarter. Perritt Capital Management Inc now owns 210,000 shares of the company’s stock worth $330,000 after purchasing an additional 185,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in LiveOne by 588.1% in the second quarter. Bank of New York Mellon Corp now owns 202,024 shares of the company’s stock worth $317,000 after acquiring an additional 172,665 shares in the last quarter. Redmond Asset Management LLC raised its stake in shares of LiveOne by 71.1% in the first quarter. Redmond Asset Management LLC now owns 377,406 shares of the company’s stock worth $736,000 after purchasing an additional 156,891 shares during the last quarter. Vanguard Group Inc. increased its position in LiveOne by 3.4% during the first quarter. Vanguard Group Inc. now owns 2,871,646 shares of the company’s stock valued at $5,600,000 after acquiring an additional 95,047 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in LiveOne by 18.6% during the second quarter. Renaissance Technologies LLC now owns 423,500 shares of the company’s stock valued at $665,000 after acquiring an additional 66,300 shares during the last quarter. 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.