Short Interest in Wheels Up Experience Inc. (NYSE:UP) Drops By 16.6%

Wheels Up Experience Inc. (NYSE:UP) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 14,104,005 shares, a decline of 16.6% from the March 15th total of 16,909,920 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,488,034 shares, the short-interest ratio is presently 9.5 days.

Institutional Investors Weigh In On Wheels Up Experience

Large investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in shares of Wheels Up Experience in the 3rd quarter valued at approximately $25,000. Unconventional Investor LLC bought a new stake in shares of Wheels Up Experience in the 3rd quarter valued at approximately $31,000. WealthShield Partners LLC bought a new stake in shares of Wheels Up Experience in the 3rd quarter valued at approximately $33,000. Clearstead Advisors LLC bought a new stake in shares of Wheels Up Experience in the 3rd quarter valued at approximately $37,000. Finally, Creative Planning bought a new stake in shares of Wheels Up Experience in the 2nd quarter valued at approximately $25,000. Institutional investors own 98.20% of the company’s stock.

Analysts Set New Price Targets

UP has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, January 21st. Wall Street Zen upgraded Wheels Up Experience from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Wheels Up Experience Stock Down 6.0%

Shares of UP traded down $0.03 during trading hours on Thursday, reaching $0.39. The company’s stock had a trading volume of 2,019,219 shares, compared to its average volume of 4,034,933. The firm has a market cap of $284.72 million, a price-to-earnings ratio of -0.94 and a beta of 2.35. Wheels Up Experience has a 1-year low of $0.36 and a 1-year high of $3.50. The company has a 50 day moving average of $0.56 and a two-hundred day moving average of $0.88.

Shares of Wheels Up Experience are going to reverse split on the morning of Monday, April 27th. The 1-20 reverse split was announced on Tuesday, April 14th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, April 24th.

About Wheels Up Experience

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.