LiveWire Group, Inc. (NYSE:LVWR) director Kjell Gruner has recently sold 5,000 shares of the company's common stock, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on May 15, 2024, amounted to a total of over $33,174, reflecting a weighted average price of $6.6348 per share.
Investors may find interest in the details of the sale which occurred within a price range of $6.58 to $6.77 per share. Following the sale, Gruner's holdings in the electric motorcycle manufacturer stand at 47,808 shares. The recent transaction indicates a notable change in the director's stake in the company.
LiveWire Group, Inc., formerly known as LW EV Holdings, Inc., is a Delaware-incorporated company specializing in motorcycles, bicycles, and parts, with a focus on the electric vehicle market. The company is headquartered in Milwaukee, Wisconsin, and is known for its innovative approach to electric motorcycles.
The disclosed sale offers a glimpse into the trading activities of the company's insiders and may be of interest to shareholders keeping track of ownership changes within LiveWire Group. The company has not made any official statements regarding the transaction at this time.
InvestingPro Insights
As LiveWire Group, Inc. (NYSE:LVWR) navigates the electric vehicle market, its financial health and stock performance are pivotal for investors. According to InvestingPro data, LiveWire holds a market capitalization of $1.33 billion, with a notable Price to Book (P/B) ratio of 7.3 as of the last twelve months leading up to Q1 2024. This high P/B ratio suggests that investors are valuing the company's assets quite generously relative to its net asset value. Moreover, the company has experienced a revenue decrease of 20.26% over the same period, highlighting challenges in sales growth.
Examining recent stock performance, LiveWire's price has experienced a significant downturn, with a 37.57% drop over the last three months. This trend aligns with an InvestingPro Tip that notes the stock price has fallen considerably in the recent quarter. Additionally, the company's gross profit margin stands at a negative 31.68%, underscoring the InvestingPro Tip regarding LiveWire's weak gross profit margins.
On the upside, one InvestingPro Tip suggests that LiveWire's liquid assets surpass its short-term obligations, which may provide some solace to investors concerned about the company's immediate financial obligations. However, analysts are not optimistic about the company's profitability in the short term, as reflected in another InvestingPro Tip stating that profitability is not anticipated for this year.
For those interested in a deeper analysis, InvestingPro offers additional insights and tips for LiveWire Group, Inc., which can be accessed on their platform. Currently, there are 10 additional InvestingPro Tips available for LVWR, which can be a valuable resource for investors looking to make informed decisions. To take advantage of these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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