LiveOne (NASDAQ:LVO) Stock Price Down 6.1% – Time to Sell?

LiveOne, Inc. (NASDAQ:LVO)’s stock price fell 6.1% during mid-day trading on Tuesday . The company traded as low as $0.62 and last traded at $0.62. 315,936 shares were traded during trading, a decline of 35% from the average session volume of 485,089 shares. The stock had previously closed at $0.66.

LiveOne Trading Down 2.6 %

The stock has a 50 day simple moving average of $0.78 and a 200 day simple moving average of $0.91. The stock has a market cap of $61.50 million, a P/E ratio of -4.92 and a beta of 2.12.

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

Institutional Investors Weigh In On LiveOne

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of LiveOne by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,854,372 shares of the company’s stock worth $1,760,000 after buying an additional 164,361 shares in the last quarter. Fleming James B JR bought a new position in shares of LiveOne in the fourth quarter worth about $2,699,000. State Street Corp boosted its stake in shares of LiveOne by 2.9% in the 3rd quarter. State Street Corp now owns 797,573 shares of the company’s stock valued at $757,000 after purchasing an additional 22,848 shares in the last quarter. Northern Trust Corp grew its holdings in shares of LiveOne by 4.6% during the 4th quarter. Northern Trust Corp now owns 637,675 shares of the company’s stock valued at $937,000 after purchasing an additional 27,890 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in LiveOne by 678.0% in the fourth quarter. JPMorgan Chase & Co. now owns 255,066 shares of the company’s stock valued at $375,000 after buying an additional 222,282 shares in the last quarter. 21.25% of the stock is currently owned by 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.