Wheels Up Experience (NYSE:UP) Shares Up 8.2% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP) shares shot up 8.2% during mid-day trading on Wednesday . The company traded as high as $2.25 and last traded at $2.24. 337,784 shares were traded during trading, a decline of 67% from the average session volume of 1,036,870 shares. The stock had previously closed at $2.07.

Wheels Up Experience Trading Up 7.7 %

The company has a market capitalization of $1.56 billion, a PE ratio of -0.22 and a beta of 2.23. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01. The stock has a fifty day moving average of $2.05 and a two-hundred day moving average of $2.39.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter. The firm had revenue of $196.29 million for the quarter. Wheels Up Experience had a negative net margin of 43.79% and a negative return on equity of 796.67%.

Hedge Funds Weigh In On Wheels Up Experience

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in shares of Wheels Up Experience in the 2nd quarter worth approximately $28,000. Quadrature Capital Ltd bought a new stake in shares of Wheels Up Experience in the 4th quarter worth approximately $34,000. CIBC Asset Management Inc bought a new stake in shares of Wheels Up Experience in the 2nd quarter worth approximately $37,000. Capital Square LLC bought a new stake in shares of Wheels Up Experience in the 1st quarter worth approximately $41,000. Finally, Fifth Lane Capital LP bought a new stake in shares of Wheels Up Experience in the 1st quarter worth approximately $45,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.