LiveWire Group (NYSE:LVWR) Shares Gap Down After Insider Selling

LiveWire Group, Inc. (NYSE:LVWR)’s share price gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $7.11, but opened at $6.89. LiveWire Group shares last traded at $6.42, with a volume of 172,332 shares trading hands.

Specifically, Director William L. Cornog sold 40,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $7.62, for a total transaction of $304,800.00. Following the completion of the sale, the director now owns 196,739 shares in the company, valued at approximately $1,499,151.18. The trade was a 16.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan Ragland sold 6,891 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $7.11, for a total value of $48,995.01. Following the completion of the transaction, the insider now owns 127,625 shares in the company, valued at $907,413.75. This represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Jon Bekefy sold 8,088 shares of LiveWire Group stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $8.14, for a total transaction of $65,836.32. Following the completion of the sale, the insider now directly owns 122,386 shares of the company’s stock, valued at $996,222.04. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Separately, Wall Street Zen raised LiveWire Group to a “sell” rating in a research note on Saturday.

LiveWire Group Stock Performance

The business’s 50-day moving average is $2.60 and its two-hundred day moving average is $3.23. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -12.22 and a beta of 1.73.

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

Institutional Trading of LiveWire Group

Several hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings 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 acquiring an additional 3,167 shares in the last quarter. Wexford Capital LP bought a new position in shares of LiveWire Group during the 4th quarter valued at about $87,000. Nuveen LLC acquired a new position in shares of LiveWire Group in the 1st quarter valued at approximately $43,000. Charles Schwab Investment Management Inc. increased its stake in LiveWire Group by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,511 shares of the company’s stock worth $224,000 after purchasing an additional 5,968 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in LiveWire Group by 120.5% during the 4th quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company’s stock worth $320,000 after buying an additional 36,357 shares during the period. 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.