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

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $3.97, but opened at $3.30. LiveWire Group shares last traded at $3.52, with a volume of 980,603 shares traded.

LiveWire Group Trading Down 15.5%

The firm has a market capitalization of $773.75 million, a P/E ratio of -8.26 and a beta of 1.04. The firm has a 50 day moving average price of $1.86 and a 200-day moving average price of $3.22.

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

Institutional Investors Weigh In On LiveWire Group

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in LiveWire Group by 21.9% during the 1st 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 last quarter. Nuveen LLC purchased a new position in shares of LiveWire Group during the first quarter valued at approximately $43,000. Wexford Capital LP bought a new position in shares of LiveWire Group during the fourth quarter valued at approximately $87,000. JPMorgan Chase & Co. grew its stake in shares of LiveWire Group by 120.5% during the fourth quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company's stock valued at $320,000 after buying an additional 36,357 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 buying an additional 5,968 shares during the period. Institutional investors 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.