LiveWire Group (NYSE:LVWR) Shares Gap Down After Insider Selling

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report)'s share price gapped down prior to trading on Thursday after an insider sold shares in the company. 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 trading hands.

Specifically, Director William L. Cornog sold 40,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $7.62, for a total value of $304,800.00. Following the completion of the sale, the director now owns 196,739 shares of the company's stock, valued at $1,499,151.18. This trade represents a 16.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan Ragland sold 6,891 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $7.11, for a total value of $48,995.01. Following the transaction, the insider now owns 127,625 shares in the company, valued at approximately $907,413.75. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other LiveWire Group news, insider Jon Bekefy sold 8,088 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $8.14, for a total value of $65,836.32. Following the completion of the sale, the insider now directly owns 122,386 shares in the company, valued at approximately $996,222.04. This trade represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded LiveWire Group to a "sell" rating in a research note on Saturday.

LiveWire Group Trading Down 10.2%

The company has a market cap of $1.14 billion, a PE ratio of -12.22 and a beta of 1.73. The firm's 50-day simple moving average is $2.60 and its two-hundred day simple moving average is $3.21.

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

Institutional Trading of LiveWire Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LVWR. Rhumbline Advisers increased 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 purchasing an additional 3,167 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 5,968 shares during the period. Wexford Capital LP purchased a new stake in LiveWire Group in the fourth quarter valued at approximately $87,000. Nuveen LLC acquired a new position in LiveWire Group in the 1st quarter worth approximately $43,000. Finally, JPMorgan Chase & Co. raised its position in LiveWire Group by 120.5% during the 4th 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. Institutional investors and hedge funds own 0.88% of the company's stock.

LiveWire Group Company Profile

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.