Wheels Up Experience (NYSE:UP) Hits New 52-Week Low – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $0.7350 and last traded at $0.7890, with a volume of 3586631 shares traded. The stock had previously closed at $0.8232.

Analyst Ratings Changes

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

Wheels Up Experience Stock Performance

The company has a market cap of $562.93 million, a P/E ratio of -1.53 and a beta of 2.30. The business has a 50 day moving average price of $1.53 and a two-hundred day moving average price of $1.61.

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

Insider Transactions at Wheels Up Experience

In other Wheels Up Experience news, COO David L. Holtz sold 36,318 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $2.92, for a total value of $106,048.56. Following the completion of the transaction, the chief operating officer directly owned 954,254 shares in the company, valued at approximately $2,786,421.68. This represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $1.22, for a total transaction of $58,475.82. Following the completion of the sale, the insider directly owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. This represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 180,966 shares of company stock worth $292,895. 0.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds have recently made changes to their positions in UP. Kestra Private Wealth Services LLC bought a new position in Wheels Up Experience in the third quarter worth $25,000. Unconventional Investor LLC bought a new position in shares of Wheels Up Experience in the 3rd quarter worth about $31,000. WealthShield Partners LLC purchased a new position in Wheels Up Experience during the 3rd quarter valued at about $33,000. Clearstead Advisors LLC bought a new stake in Wheels Up Experience during the third quarter worth about $37,000. Finally, Creative Planning bought a new stake in Wheels Up Experience during the second quarter worth about $25,000. 98.20% of the stock is currently owned by institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.