LiveWire Group (NYSE:LVWR) Trading 5% Higher

LiveWire Group, Inc. (NYSE:LVWR) shares shot up 5% on Wednesday . The stock traded as high as $6.89 and last traded at $6.89. 576 shares changed hands during trading, a decline of 98% from the average session volume of 23,213 shares. The stock had previously closed at $6.56.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their target price on shares of LiveWire Group from $7.75 to $7.25 and set a “neutral” rating for the company in a research report on Thursday, May 9th.

LiveWire Group Stock Up 2.9 %

The business’s fifty day moving average is $7.26 and its 200-day moving average is $7.54. The company has a market cap of $1.37 billion, a PE ratio of -12.53 and a beta of 0.97.

LiveWire Group (NYSE:LVWR) last announced its earnings results on Thursday, July 25th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $6.45 million for the quarter. LiveWire Group had a negative return on equity of 49.74% and a negative net margin of 277.31%.

Insider Activity at LiveWire Group

In other LiveWire Group news, Director Kjell Gruner sold 5,300 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $6.63, for a total transaction of $35,139.00. Following the completion of the sale, the director now directly owns 29,477 shares of the company’s stock, valued at approximately $195,432.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 12,208 shares of company stock worth $80,403. 1.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in LiveWire Group stock. Bank of New York Mellon Corp grew its holdings in LiveWire Group, Inc. (NYSE:LVWR) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,209 shares of the company’s stock after buying an additional 1,530 shares during the period. Bank of New York Mellon Corp’s holdings in LiveWire Group were worth $362,000 as of its most recent filing with the Securities & Exchange Commission. 0.88% of the stock is currently owned by hedge funds and other institutional investors.

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.