LiveWire Group (NYSE:LVWR) Shares Down 8.1% - Here's What Happened

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report)'s stock price dropped 8.1% on Monday . The stock traded as low as $4.19 and last traded at $4.19. Approximately 65,437 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,036,921 shares. The stock had previously closed at $4.56.

Analyst Ratings Changes

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

LiveWire Group Price Performance

The firm has a 50-day moving average price of $3.58 and a 200-day moving average price of $3.13.

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. LiveWire Group had a negative net margin of 367.05% and a negative return on equity of 70.38%. The company had revenue of $2.74 million for the quarter.

Insider Activity at LiveWire Group

In other news, CFO Tralisa Maraj sold 25,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $8.60, for a total transaction of $215,000.00. Following the transaction, the chief financial officer owned 324,771 shares of the company's stock, valued at approximately $2,793,030.60. This represents a 7.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $48,995.01. Following the sale, the insider directly owned 127,625 shares in the company, valued at approximately $907,413.75. The trade was a 5.12% 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 worth $1,943,431 in the last ninety days. Corporate insiders own 2.05% of the company's stock.

Institutional Investors Weigh In On LiveWire Group

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of LiveWire Group by 21.9% in the first quarter. Rhumbline Advisers now owns 17,655 shares of the company's stock worth $35,000 after purchasing an additional 3,167 shares during the last quarter. Nuveen LLC acquired a new stake in shares of LiveWire Group in the first quarter worth approximately $43,000. Wexford Capital LP acquired a new position in LiveWire Group during the fourth quarter worth $87,000. Charles Schwab Investment Management Inc. boosted its stake 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. raised its position in 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 purchasing an additional 36,357 shares during the period. Hedge funds and other 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.