Wheels Up Experience (NYSE:UP) Trading Up 10.2% – Should You Buy?

Wheels Up Experience Inc. (NYSE:UP) was up 10.2% on Friday . The company traded as high as $1.09 and last traded at $1.0250. Approximately 3,841,512 shares changed hands during trading, a decline of 71% from the average daily volume of 13,122,921 shares. The stock had previously closed at $0.9301.

Analyst Upgrades and Downgrades

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

Wheels Up Experience Stock Up 15.6%

The stock has a market capitalization of $775.84 million, a price-to-earnings ratio of -2.11 and a beta of 2.34. The business’s 50 day simple moving average is $0.80 and its 200-day simple moving average is $1.42.

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

Insider Activity at Wheels Up Experience

In other Wheels Up Experience news, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $1.22, for a total value of $58,475.82. Following the sale, the insider owned 526,681 shares in the company, valued at $642,550.82. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Briffa sold 86,813 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.23, for a total transaction of $106,779.99. Following the sale, 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. 0.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wheels Up Experience

Several institutional investors and hedge funds have recently added to or reduced their stakes in UP. Creative Planning acquired a new position in shares of Wheels Up Experience during the second quarter worth $25,000. Kestra Private Wealth Services LLC acquired a new position in Wheels Up Experience during the 3rd quarter worth about $25,000. Hudson Bay Capital Management LP bought a new stake in shares of Wheels Up Experience in the 2nd quarter valued at about $25,000. CWM LLC increased its stake in shares of Wheels Up Experience by 77.0% in the second quarter. CWM LLC now owns 24,880 shares of the company’s stock valued at $27,000 after buying an additional 10,827 shares during the period. Finally, Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience in the second quarter valued at about $27,000. 98.20% of the stock is currently owned by institutional investors and hedge funds.

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.