Livexlive Media (NASDAQ:LIVX) Stock Rating Reaffirmed by Maxim Group

Maxim Group reaffirmed their buy rating on shares of Livexlive Media (NASDAQ:LIVX) in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. The brokerage currently has a $8.00 price objective on the stock.

“For F1Q20, to be reported Tuesday, August 6, we project revenue of $9.6M, +26% y/y, and an adjusted EBITDA loss of ($2.8M).”,” Maxim Group’s analyst commented.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Livexlive Media from a buy rating to a hold rating in a research note on Tuesday, April 23rd. HC Wainwright reaffirmed a buy rating and issued a $6.00 price target on shares of Livexlive Media in a research note on Friday, June 14th. Finally, Zacks Investment Research lowered shares of Livexlive Media from a hold rating to a sell rating in a research note on Saturday, June 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $6.56.

Livexlive Media stock traded down $0.08 during midday trading on Wednesday, reaching $2.59. The company had a trading volume of 21,904 shares, compared to its average volume of 105,268. Livexlive Media has a 12-month low of $2.12 and a 12-month high of $7.23. The business has a fifty day moving average of $3.24. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.59.

Livexlive Media (NASDAQ:LIVX) last issued its quarterly earnings results on Thursday, June 13th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). The company had revenue of $9.18 million during the quarter, compared to analysts’ expectations of $13.00 million. Livexlive Media had a negative net margin of 110.99% and a negative return on equity of 185.99%. On average, sell-side analysts predict that Livexlive Media will post -0.5 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of LIVX. BlackRock Inc. lifted its stake in Livexlive Media by 277.5% in the 4th quarter. BlackRock Inc. now owns 1,363,258 shares of the company’s stock valued at $6,748,000 after buying an additional 1,002,111 shares in the last quarter. Geode Capital Management LLC lifted its stake in Livexlive Media by 56.7% in the 4th quarter. Geode Capital Management LLC now owns 237,334 shares of the company’s stock valued at $1,174,000 after buying an additional 85,855 shares in the last quarter. Guild Investment Management Inc. acquired a new stake in Livexlive Media in the 1st quarter valued at about $440,000. Bank of New York Mellon Corp raised its holdings in Livexlive Media by 210.4% in the 4th quarter. Bank of New York Mellon Corp now owns 78,594 shares of the company’s stock valued at $390,000 after acquiring an additional 53,276 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Livexlive Media by 25.5% in the 4th quarter. Northern Trust Corp now owns 86,138 shares of the company’s stock valued at $426,000 after acquiring an additional 17,511 shares during the last quarter. 21.79% of the stock is currently owned by hedge funds and other institutional investors.

About Livexlive Media

LiveXLive Media, Inc 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, as well as Slacker Radio, a streaming music service; and produces original music-related content.

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