LiveWire Group (NYSE:LVWR) Shares Gap Down - Here's Why

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $7.11, but opened at $6.89. LiveWire Group shares last traded at $6.42, with a volume of 172,332 shares traded.

LiveWire Group Stock Performance

The company has a market cap of $1.28 billion, a P/E ratio of -13.63 and a beta of 1.73. The stock's fifty day moving average price is $2.53 and its two-hundred day moving average price is $3.23.

LiveWire Group (NYSE:LVWR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter. LiveWire Group had a negative net margin of 352.66% and a negative return on equity of 58.65%. The business had revenue of $2.74 million during the quarter.

Insider Buying and Selling

In related news, insider Ryan Ragland sold 6,891 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $7.11, for a total transaction of $48,995.01. Following the transaction, the insider now directly owns 127,625 shares of the company's stock, valued at $907,413.75. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William L. Cornog sold 40,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $7.62, for a total transaction of $304,800.00. Following the transaction, the director now directly owns 196,739 shares in the company, valued at $1,499,151.18. The trade was a 16.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,979 shares of company stock valued at $419,631 over the last ninety days. 2.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in LiveWire Group by 21.9% during the first quarter. Rhumbline Advisers now owns 17,655 shares of the company's stock worth $35,000 after buying an additional 3,167 shares during the last quarter. Wexford Capital LP purchased a new stake in LiveWire Group during the fourth quarter worth about $87,000. Nuveen LLC purchased a new stake in LiveWire Group during the first quarter worth about $43,000. Charles Schwab Investment Management Inc. increased its holdings in LiveWire Group by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,511 shares of the company's stock worth $224,000 after buying an additional 5,968 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in LiveWire Group by 120.5% during the fourth quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company's stock worth $320,000 after buying an additional 36,357 shares during the last quarter. 0.88% of the stock is owned by institutional investors.

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.