LiveWire Group (NYSE:LVWR) Stock Price 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)'s stock price shot up 28.1% during mid-day trading on Monday . The stock traded as high as $4.55 and last traded at $4.53. 263,516 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,549,989 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

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

LiveWire Group Stock Performance

The stock has a market cap of $984.06 million, a PE ratio of -12.07 and a beta of 1.69. The firm has a fifty day moving average price of $3.82 and a 200 day moving average price of $3.17.

LiveWire Group (NYSE:LVWR - Get Free Report) last issued 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 return on equity of 77.81% and a negative net margin of 350.82%.

Insider Buying and Selling 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 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 approximately $5,440,160. This trade represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.05% of the company's stock.

Hedge Funds Weigh In On LiveWire Group

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of 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 buying an additional 3,167 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in LiveWire Group in the 2nd quarter worth about $35,000. Nuveen LLC acquired a new stake in LiveWire Group in the 1st quarter worth about $43,000. Tower Research Capital LLC TRC grew its position in shares of 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 purchasing an additional 5,812 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of LiveWire Group during the 2nd quarter valued at about $60,000. 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.