Livexlive Media (NASDAQ:LIVX) Shares Down 2.7%

Livexlive Media Inc (NASDAQ:LIVX) dropped 2.7% during trading on Tuesday . The company traded as low as $3.58 and last traded at $3.61, approximately 30,029 shares traded hands during trading. A decline of 98% from the average daily volume of 1,239,961 shares. The stock had previously closed at $3.71.

LIVX has been the topic of a number of analyst reports. JMP Securities increased their price objective on Livexlive Media from $3.50 to $4.00 and gave the company a “market outperform” rating in a report on Monday, May 11th. LADENBURG THALM/SH SH increased their price objective on Livexlive Media from $4.50 to $5.75 in a report on Friday, June 19th. Maxim Group reissued a “buy” rating and set a $5.00 price objective on shares of Livexlive Media in a report on Tuesday, June 23rd. Zacks Investment Research raised Livexlive Media from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Wednesday, June 24th. Finally, Alliance Global Partners increased their price objective on Livexlive Media from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, June 19th. Nine investment analysts have rated the stock with a buy rating, Livexlive Media currently has an average rating of “Buy” and a consensus price target of $5.53.

The stock has a fifty day simple moving average of $3.48 and a 200-day simple moving average of $2.24.

Livexlive Media (NASDAQ:LIVX) last released its earnings results on Thursday, June 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.15). The firm had revenue of $9.88 million for the quarter, compared to analyst estimates of $9.89 million. Livexlive Media had a negative return on equity of 1,178.80% and a negative net margin of 100.69%. As a group, equities research analysts predict that Livexlive Media Inc will post -0.51 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CSS LLC IL acquired a new stake in Livexlive Media in the 4th quarter valued at approximately $28,000. Renaissance Technologies LLC acquired a new stake in shares of Livexlive Media during the 4th quarter worth approximately $33,000. Barclays PLC grew its holdings in shares of Livexlive Media by 80.4% during the 4th quarter. Barclays PLC now owns 32,649 shares of the company’s stock worth $50,000 after purchasing an additional 14,551 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of Livexlive Media during the 1st quarter worth approximately $51,000. Finally, UBS Group AG grew its holdings in shares of Livexlive Media by 56.6% during the 4th quarter. UBS Group AG now owns 40,916 shares of the company’s stock worth $63,000 after purchasing an additional 14,788 shares in the last quarter. 32.58% of the stock is currently owned by hedge funds and other institutional investors.

Livexlive Media Company Profile (NASDAQ:LIVX)

LiveXLive Media, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, and music-related streaming and video content. The company operates LiveXLive, a live music streaming platform; and Slacker Radio, a streaming music service, as well as produces original music-related content.

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