The Vanguard Group, Inc. recently announced the acquisition of new stake in LiveOne Inc. (NASDAQ:LVO). The institutional investor has increased its shareholding in the Communication Services company by 35.26% to 2.31 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 2.64% valued currently at $1.49 million. In addition, Fuller & Thaler Asset Management, raised its holdings by 14675.0 to 1.06 million shares. And Geode Capital Management LLC has lifted its position by 1.39% or 7744.0 shares – to 0.56 million shares.
With over 0.25 million LiveOne Inc. (LVO) shares trading Friday and a closing price of $0.81 on the day, the dollar volume was approximately $0.2 million. The shares have shown a negative half year performance of -26.85% and its price on 01/13/23 gained nearly 3.76%. Currently, there are 84.71M common shares owned by the public and among those 65.65M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for LVO have a consensus price objective of $4.58. The analysts have set the share’s price value over the next 12 months at a high of $7.25 and a low of $3.00. The average price target is 82.31% above its recent price level and an upside to the estimated low will see the stock gain 73.0% over that period. But an upside of 88.83% will see the stock hit the forecast high price target while median target price for the stock is $3.50.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 542,250 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 12,287 shares.
The top 3 mutual fund holders in LiveOne Inc. are Fidelity Puritan Fund, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. Fidelity Puritan Fund owns 6.72 million shares of the company’s stock, all valued at over $4.32 million. The company sold 5686.0 shares recently to bring their total holdings to about 7.69% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 0.88% of the shares outstanding.
Shares of LiveOne Inc. (NASDAQ: LVO) opened at $0.80, up $0.02 from a prior closing price of $0.78. However, the script later moved the day high at 0.8400, up 3.76%. The company’s stock has a 5-day price change of 14.56% and 11.65% over the past three months. LVO shares are trading 26.18% year to date (YTD), with the 12-month market performance down to -19.60% lower. It has a 12-month low price of $0.48 and touched a high of $1.43 over the same period. LVO has an average intraday trading volume of 243.74K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 31.42%, 24.06%, and -4.29% respectively.
Institutional ownership of LiveOne Inc. (NASDAQ: LVO) shares accounts for 23.50% of the company’s 84.71M shares outstanding. Mutual fund holders own 24.25%, while other institutional holders and individual stakeholders account for 25.28% and 11.57% respectively.
It has a market capitalization of $68.40M and a beta (3y monthly) value of 1.36. The earnings-per-share (ttm) stands at -$0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.43% over the week and 10.11% over the month.
Analysts forecast that LiveOne Inc. (LVO) will achieve an EPS of -$0.04 for the current quarter, -$0.02 for the next quarter and -$0.06 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 8.30%, and 18.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate LiveOne Inc. (LVO) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”