Wheels Up Experience (NYSE:UP) Trading Down 6.4% – Should You Sell?

Wheels Up Experience Inc. (NYSE:UP)’s stock price dropped 6.4% during trading on Wednesday . The company traded as low as $0.8740 and last traded at $0.8710. Approximately 1,328,250 shares were traded during trading, a decline of 89% from the average daily volume of 12,039,424 shares. The stock had previously closed at $0.9304.

Analyst Upgrades and Downgrades

UP has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Wheels Up Experience Stock Performance

The company has a market cap of $630.05 million, a price-to-earnings ratio of -1.72 and a beta of 2.34. The firm’s 50 day simple moving average is $0.78 and its 200-day simple moving average is $1.42.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $185.49 million for the quarter.

Insider Buying and Selling

In other Wheels Up Experience news, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.22, for a total value of $58,475.82. Following the completion of the sale, the insider directly owned 526,681 shares of the company’s stock, valued at $642,550.82. This trade represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Briffa sold 86,813 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $1.23, for a total transaction of $106,779.99. Following the transaction, the insider directly owned 866,670 shares in the company, valued at approximately $1,066,004.10. The trade was a 9.10% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Wheels Up Experience

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new stake in shares of Wheels Up Experience in the third quarter valued at $138,000. Kestra Private Wealth Services LLC purchased a new stake in Wheels Up Experience during the third quarter worth about $25,000. Militia Capital Partners LP acquired a new stake in shares of Wheels Up Experience during the third quarter worth about $644,000. Two Sigma Investments LP purchased a new position in shares of Wheels Up Experience in the third quarter valued at approximately $272,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Wheels Up Experience by 350.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 305,419 shares of the company’s stock valued at $562,000 after purchasing an additional 237,639 shares in the last quarter. Institutional investors and hedge funds own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.