LiveWire Group (NYSE:LVWR) Shares Down 7.7% - Here's What Happened

Shares of LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) traded down 7.7% during trading on Monday . The company traded as low as $3.12 and last traded at $3.19. 39,907 shares were traded during trading, a decline of 96% from the average session volume of 1,044,354 shares. The stock had previously closed at $3.45.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of LiveWire Group to a "sell" rating in a report on Saturday, June 14th.

LiveWire Group Price Performance

The company has a market cap of $634.73 million, a price-to-earnings ratio of -7.25 and a beta of 1.71. The business's 50-day simple moving average is $3.75 and its 200-day simple moving average is $3.08.

LiveWire Group (NYSE:LVWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $2.74 million for the quarter. LiveWire Group had a negative return on equity of 70.38% and a negative net margin of 367.05%.

Insider Activity at LiveWire Group

In other LiveWire Group news, CEO Karim Donnez sold 54,661 shares of LiveWire Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $5.50, for a total transaction of $300,635.50. Following the completion of the transaction, the chief executive officer owned 989,120 shares in the company, valued at approximately $5,440,160. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Bekefy sold 8,088 shares of LiveWire Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $8.14, for a total transaction of $65,836.32. Following the transaction, the insider owned 122,386 shares of the company's stock, valued at approximately $996,222.04. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,896 shares of company stock valued at $1,943,431 in the last quarter. 2.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LiveWire Group

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position 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 acquired a new position in shares of LiveWire Group in the first quarter valued at approximately $43,000. Wexford Capital LP acquired a new position in shares of LiveWire Group in the fourth quarter valued at approximately $87,000. JPMorgan Chase & Co. raised 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 valued at $320,000 after buying an additional 36,357 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $224,000 after buying an additional 5,968 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.