LiveWire Group (NYSE:LVWR) Trading 17% Higher - Time to Buy?

Shares of LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) rose 17% during trading on Tuesday . The stock traded as high as $7.05 and last traded at $7.00. Approximately 365,330 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 974,717 shares. The stock had previously closed at $5.98.

LiveWire Group Stock Down 10.2%

The stock has a fifty day moving average of $2.53 and a 200-day moving average of $3.23. The stock has a market cap of $1.14 billion, a PE ratio of -12.22 and a beta of 1.73.

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

Insider Activity

In other news, insider Jon Bekefy sold 8,088 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $8.14, for a total value of $65,836.32. Following the sale, the insider now directly owns 122,386 shares in the company, valued at $996,222.04. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now directly owns 196,739 shares of the company's stock, valued at $1,499,151.18. The trade was a 16.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,979 shares of company stock valued at $419,631 in the last three months. 2.05% of the stock is currently owned by company insiders.

Institutional Trading of LiveWire Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LVWR. Rhumbline Advisers boosted its position 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 acquiring an additional 3,167 shares during the last quarter. Nuveen LLC acquired a new stake in LiveWire Group in the 1st quarter worth about $43,000. Wexford Capital LP acquired a new position in shares of LiveWire Group during the 4th quarter valued at about $87,000. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 36,357 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 valued at $224,000 after purchasing an additional 5,968 shares during the period. Hedge funds and other institutional investors 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.