Wheels Up Experience (NYSE:UP) Stock Price Up 5.3% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP) shares rose 5.3% during trading on Tuesday . The company traded as high as $2.20 and last traded at $2.20. Approximately 309,235 shares changed hands during trading, a decline of 70% from the average daily volume of 1,028,137 shares. The stock had previously closed at $2.09.

Wheels Up Experience Price Performance

The company has a market capitalization of $1.53 billion, a P/E ratio of -0.21 and a beta of 2.23. The business has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $2.38. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 238.01.

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

Institutional Trading of Wheels Up Experience

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Wheels Up Experience by 1,399.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock valued at $500,000 after purchasing an additional 246,742 shares during the period. Instrumental Wealth LLC grew its holdings in Wheels Up Experience by 21.1% during the first quarter. Instrumental Wealth LLC now owns 189,268 shares of the company’s stock worth $545,000 after acquiring an additional 32,963 shares during the period. The Manufacturers Life Insurance Company raised its position in Wheels Up Experience by 44.4% in the second quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock worth $223,000 after acquiring an additional 36,201 shares in the last quarter. CCG Wealth Management LLC bought a new stake in Wheels Up Experience in the first quarter worth about $287,000. Finally, Rhumbline Advisers lifted its holdings in Wheels Up Experience by 15,329.7% in the 2nd quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock valued at $165,000 after acquiring an additional 86,766 shares during the last quarter. 98.20% of the stock is 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.