LiveOne (NASDAQ:LVO) Trading Down 10.9% – Should You Sell?

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

LiveOne Stock Up 13.3 %

The stock has a market cap of $78.44 million, a price-to-earnings ratio of -6.28 and a beta of 1.66. The stock has a fifty day moving average of $0.99 and a two-hundred day moving average of $1.01.

LiveOne (NASDAQ:LVO) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $29.45 million during the quarter, compared to analysts’ expectations of $32.69 million. Equities research analysts anticipate that LiveOne, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of LiveOne

A number of hedge funds and other institutional investors have recently modified their holdings of LVO. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of LiveOne during the third quarter worth about $32,000. Charles Schwab Investment Management Inc. increased its holdings in LiveOne by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 221,077 shares of the company’s stock valued at $210,000 after buying an additional 21,057 shares during the last quarter. State Street Corp increased its holdings in LiveOne by 2.9% in the third quarter. State Street Corp now owns 797,573 shares of the company’s stock valued at $757,000 after buying an additional 22,848 shares during the last quarter. Jane Street Group LLC increased its holdings in LiveOne by 271.3% in the third quarter. Jane Street Group LLC now owns 73,219 shares of the company’s stock valued at $69,000 after buying an additional 53,499 shares during the last quarter. Finally, Barclays PLC increased its holdings in LiveOne by 359.3% in the third quarter. Barclays PLC now owns 106,408 shares of the company’s stock valued at $101,000 after buying an additional 83,242 shares during the last quarter. 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.