LiveWire Group (NYSE:LVWR) Trading Up 28.1% - Here's Why

Key Points

• LiveWire Group's shares surged 28.1% in midday trading, reaching a high of $4.55 following previous closing at $3.54.
• The company was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• LiveWire Group reported a significant negative net margin of 350.82% and a negative return on equity of 77.81% for the last quarter, raising concerns about its financial health.

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) shares were up 28.1% during mid-day trading on Monday . The stock traded as high as $4.55 and last traded at $4.53. Approximately 263,516 shares changed hands during trading, a decline of 83% from the average daily volume of 1,549,989 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded LiveWire Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd.

LiveWire Group Stock Up 26.3%

The firm has a market capitalization of $910.70 million, a P/E ratio of -11.17 and a beta of 1.69. The business has a 50-day moving average price of $3.81 and a 200-day moving average price of $3.10.

LiveWire Group (NYSE:LVWR - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $5.87 million during the quarter. LiveWire Group had a negative net margin of 350.82% and a negative return on equity of 77.81%.

Insider Activity at LiveWire Group

In other news, CEO Karim Donnez sold 54,661 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was 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 $5,440,160. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William L. Cornog sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $7.62, for a total transaction of $304,800.00. Following the completion of the transaction, the director directly owned 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 disclosure for this sale can be found here. Insiders have sold 276,896 shares of company stock valued at $1,943,431 in the last ninety days. 2.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LiveWire Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LVWR. Rhumbline Advisers boosted its stake 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 acquiring an additional 3,167 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of LiveWire Group during the 2nd quarter worth about $35,000. Nuveen LLC bought a new position in shares of LiveWire Group in the 1st quarter valued at about $43,000. Tower Research Capital LLC TRC lifted its stake in LiveWire Group by 119.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,676 shares of the company's stock valued at $49,000 after buying an additional 5,812 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in LiveWire Group during the second quarter worth $60,000. 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.

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