LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,210,000 shares, an increase of 202.9% from the May 15th total of 729,700 shares. Based on an average trading volume of 3,710,000 shares, the days-to-cover ratio is presently 0.6 days. Currently, 24.6% of the shares of the company are sold short.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of LiveWire Group to a "sell" rating in a research note on Saturday.
View Our Latest Research Report on LVWR
Insider Buying and Selling
In other news, Director John L. Garcia sold 56,559 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $6.47, for a total value of $365,936.73. Following the sale, the director now directly owns 2,698,722 shares in the company, valued at approximately $17,460,731.34. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Tralisa Maraj sold 25,000 shares of LiveWire Group stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $8.60, for a total transaction of $215,000.00. Following the sale, the chief financial officer now owns 324,771 shares in the company, valued at approximately $2,793,030.60. This represents a 7.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,235 shares of company stock valued at $1,642,796. 2.05% of the stock is owned by company insiders.
Institutional Trading of LiveWire Group
Several hedge funds and other institutional investors have recently bought and sold shares of LVWR. Charles Schwab Investment Management Inc. lifted its stake in LiveWire Group by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,511 shares of the company's stock worth $224,000 after acquiring an additional 5,968 shares during the period. JPMorgan Chase & Co. raised its holdings in LiveWire Group by 120.5% in the fourth quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company's stock worth $320,000 after purchasing an additional 36,357 shares in the last quarter. Wexford Capital LP purchased a new position in shares of LiveWire Group in the 4th quarter worth about $87,000. Nuveen LLC purchased a new position in shares of LiveWire Group in the 1st quarter worth about $43,000. Finally, Rhumbline Advisers increased its holdings in LiveWire Group by 21.9% in the 1st quarter. Rhumbline Advisers now owns 17,655 shares of the company's stock worth $35,000 after buying an additional 3,167 shares in the last quarter. Hedge funds and other institutional investors own 0.88% of the company's stock.
LiveWire Group Price Performance
Shares of LVWR traded down $0.64 during midday trading on Friday, hitting $5.62. 922,982 shares of the company traded hands, compared to its average volume of 1,008,799. The stock has a 50-day moving average of $2.60 and a 200-day moving average of $3.21. LiveWire Group has a one year low of $0.93 and a one year high of $9.04. The firm has a market cap of $1.14 billion, a P/E ratio of -12.22 and a beta of 1.73.
LiveWire Group (NYSE:LVWR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.09) earnings per share for the quarter. The company had revenue of $2.74 million during the quarter. LiveWire Group had a negative return on equity of 58.65% and a negative net margin of 352.66%.
About LiveWire Group
(
Get Free Report)
LiveWire Group, Inc manufactures electric motorcycles in the United States and internationally. It operates in two segments Electric Motorcycles and STACYC. The company designs and sells electric motorcycles and parts, accessories, and apparel; and electric balance bikes for kids. It serves wholesalers, independent dealers, retailers, and through online.
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