LiveOne (NASDAQ:LVO) Stock Price Down 10.9% – Here’s What Happened

LiveOne, Inc. (NASDAQ:LVO) dropped 10.9% during mid-day trading on Tuesday . The company traded as low as $0.70 and last traded at $0.70. Approximately 317,623 shares traded hands during trading, a decline of 34% from the average daily volume of 483,620 shares. The stock had previously closed at $0.78.

LiveOne Price Performance

The business’s 50 day moving average price is $1.00 and its 200 day moving average price is $1.01. The stock has a market capitalization of $66.79 million, a P/E ratio of -5.35 and a beta of 1.66.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LVO. Two Sigma Securities LLC purchased a new stake in shares of LiveOne during the 4th quarter valued at about $26,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in LiveOne during the third quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD increased its holdings in LiveOne by 63.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 35,954 shares of the company’s stock valued at $53,000 after buying an additional 13,900 shares during the last quarter. Wells Fargo & Company MN raised 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 purchased a new position in shares of LiveOne during the 4th quarter worth $62,000. 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.