LiveWire Group, Inc. (NYSE:LVWR) has reported that its director, Gruner Kjell, sold a total of 5,300 shares of the company's common stock. The sale, which occurred on May 29, 2024, amounted to over $33,000, with the weighted average price per share being $6.4131.
The transactions were executed in multiple tranches, with prices ranging from $6.38 to $6.50 per share, reflecting the market's fluctuations on the day of sale. Following this transaction, Kjell's remaining direct ownership in LiveWire stands at 24,177 shares of common stock.
Investors and market watchers often look to insider trading activities to gain insights into a company's performance and the confidence level of its executives and directors. While the reasons behind Kjell's decision to reduce his position in the company are not disclosed, the transaction details are fully reported in compliance with SEC regulations.
LiveWire Group, Inc., known for its focus on the motorcycle, bicycles, and parts industry, has been a topic of interest among investors, especially with the increasing attention to electric vehicles and related technologies.
The company, which has its headquarters in Milwaukee, Wisconsin, has undergone a name change from its former identity, LW EV Holdings, Inc., as of December 2021. LiveWire continues to operate in the manufacturing sector under the SIC code 3751.
For those interested in the specifics of the transaction or seeking further details, the reporting person has committed to providing full information on the number of shares sold at each price upon request by the SEC staff, the issuer, or any security holder of the issuer.
This sale represents a notable transaction by a key insider of LiveWire Group, and it will be interesting to see how this action might be interpreted by the market and whether it will have any impact on the company's stock performance in the upcoming days.
InvestingPro Insights
Amidst the recent news of insider trading by LiveWire Group, Inc.'s director, Kjell Gruner, investors are keenly observing the company's financial health and market performance. To provide a deeper understanding, here are some pertinent metrics and tips from InvestingPro.
With a market capitalization of $1.29 billion, LiveWire appears to have a significant presence in the market. However, the company's financials paint a challenging picture, as reflected in the P/E Ratio (last twelve months as of Q1 2024) standing at -11.68. This indicates that investors are currently valuing the company at a loss, which aligns with the InvestingPro Tips that analysts do not anticipate LiveWire to be profitable this year.
The company's revenue has seen a downturn, with a -20.26% change over the last twelve months as of Q1 2024, and a more pronounced quarterly revenue decline of -35.87% in Q1 2024. Additionally, LiveWire's Gross Profit Margin is at -31.68%, underscoring the InvestingPro Tips about the company's weak gross profit margins.
On the liquidity front, LiveWire holds more cash than debt, and its liquid assets surpass short-term obligations, which could be seen as a sign of financial stability in the short term. However, the stock price has experienced a significant drop of -32.09% over the last three months, aligning with the InvestingPro Tips that the price has fallen substantially in recent times.
For investors looking for a comprehensive analysis and additional insights, there are more InvestingPro Tips available on https://www.investing.com/pro/LVWR. Currently, there are 10 additional tips listed, which could prove invaluable in making informed decisions about LiveWire's stock. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As the market processes the implications of insider trading activities, these InvestingPro metrics and tips offer a clearer picture of LiveWire's current financial standing and future prospects.
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