Wheels Up Experience (NYSE:UP) Stock Price Up 7.4% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s share price shot up 7.4% during mid-day trading on Tuesday . The company traded as high as $2.15 and last traded at $2.11. 764,736 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 1,013,309 shares. The stock had previously closed at $1.96.

Wheels Up Experience Price Performance

The stock has a fifty day moving average of $2.12 and a 200-day moving average of $2.34. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 238.01. The firm has a market capitalization of $1.42 billion, a P/E ratio of -0.55 and a beta of 2.24.

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

Institutional Trading of Wheels Up Experience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new stake in Wheels Up Experience in the third quarter worth about $26,000. Renaissance Technologies LLC acquired a new stake in Wheels Up Experience in the second quarter worth about $28,000. CIBC Asset Management Inc acquired a new stake in Wheels Up Experience in the second quarter worth about $37,000. Capital Square LLC acquired a new stake in Wheels Up Experience in the first quarter worth about $41,000. Finally, SG Americas Securities LLC acquired a new stake in Wheels Up Experience in the third quarter worth about $56,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

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.