LiveWire Group (NYSE:LVWR) Stock Price Down 8.8% - Here's What Happened

Key Points

• LiveWire Group's stock price fell by 8.8% during Friday trading, closing at $3.42 after hitting a low of $3.37, with a significant decline in trading volume.
• Wall Street Zen downgraded LiveWire Group to a "sell" rating, indicating negative sentiment among analysts.
• The company's quarterly earnings report revealed a loss of ($0.09) per share and a substantial negative net margin of 350.82%, reflecting ongoing financial challenges.

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report)'s stock price dropped 8.8% during trading on Friday . The stock traded as low as $3.37 and last traded at $3.42. Approximately 22,620 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,798,335 shares. The stock had previously closed at $3.75.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of LiveWire Group from a "sell" rating to a "hold" rating in a research report on Saturday.

LiveWire Group Stock Down 0.4%

The stock has a market cap of $675.45 million, a P/E ratio of -8.29 and a beta of 1.69. The firm's 50-day moving average is $4.48 and its two-hundred day moving average is $3.00.

LiveWire Group (NYSE:LVWR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $5.87 million for the quarter. LiveWire Group had a negative net margin of 350.82% and a negative return on equity of 71.64%.

Insider Buying and Selling

In related news, CFO Tralisa Maraj sold 25,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $8.60, for a total transaction of $215,000.00. Following the transaction, the chief financial officer owned 324,771 shares of the company's stock, valued at approximately $2,793,030.60. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Garcia sold 56,559 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $6.47, for a total transaction of $365,936.73. Following the transaction, the director directly owned 2,698,722 shares in the company, valued at $17,460,731.34. This trade represents a 2.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,896 shares of company stock valued at $1,943,431. 2.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LiveWire Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of LiveWire Group by 21.9% in the first quarter. Rhumbline Advisers now owns 17,655 shares of the company's stock valued at $35,000 after buying an additional 3,167 shares during the last quarter. Nuveen LLC bought a new stake in LiveWire Group during the 1st quarter worth about $43,000. Wexford Capital LP bought a new stake in shares of LiveWire Group in the 4th quarter valued at about $87,000. Finally, JPMorgan Chase & Co. increased its stake in shares of LiveWire Group by 120.5% in the 4th quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company's stock valued at $320,000 after acquiring an additional 36,357 shares during the last quarter. Institutional investors and hedge funds own 0.88% of the company's stock.

About LiveWire Group

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.