LiveWire Group (NYSE:LVWR) Shares Gap Up – Here’s Why

LiveWire Group, Inc. (NYSE:LVWR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.56, but opened at $3.70. LiveWire Group shares last traded at $3.10, with a volume of 30,902,986 shares trading hands.

LiveWire Group Price Performance

The company has a market capitalization of $723.68 million, a P/E ratio of -7.67 and a beta of 1.04. The company’s 50-day moving average price is $1.75 and its two-hundred day moving average price is $3.30.

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

Hedge Funds Weigh In On LiveWire Group

A number of hedge funds have recently bought and sold shares of LVWR. JPMorgan Chase & Co. increased its position in LiveWire Group by 120.5% during the fourth quarter. JPMorgan Chase & Co. now owns 66,523 shares of the company’s stock worth $320,000 after acquiring an additional 36,357 shares during the period. Nuveen LLC bought a new position in LiveWire Group during the first quarter worth about $43,000. Wexford Capital LP bought a new position in LiveWire Group during the fourth quarter worth about $87,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 acquiring an additional 5,968 shares during the period. 0.88% of the stock is owned by 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.