LiveWire Group (NYSE:LVWR) Shares Down 6.1% - What's Next?

LiveWire Group, Inc. (NYSE:LVWR - Get Free Report) dropped 6.1% during mid-day trading on Thursday . The stock traded as low as $5.80 and last traded at $5.80. Approximately 13,606 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 26,386 shares. The stock had previously closed at $6.18.

LiveWire Group Price Performance

The firm's 50 day moving average price is $6.25 and its 200-day moving average price is $6.81. The stock has a market cap of $1.19 billion, a P/E ratio of -10.64 and a beta of 0.95.

LiveWire Group (NYSE:LVWR - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $6.45 million for the quarter. LiveWire Group had a negative net margin of 277.31% and a negative return on equity of 52.93%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in LiveWire Group stock. Bank of New York Mellon Corp lifted its position in LiveWire Group, Inc. (NYSE:LVWR - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. 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 SEC filing. 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.