Wheels Up Experience (NYSE:UP) Trading Up 11.9% – Time to Buy?

Wheels Up Experience Inc. (NYSE:UP)’s share price shot up 11.9% during trading on Wednesday . The stock traded as high as $0.75 and last traded at $0.7390. 1,715,941 shares were traded during trading, a decline of 46% from the average session volume of 3,193,412 shares. The stock had previously closed at $0.6603.

Analysts Set New Price Targets

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

Wheels Up Experience Price Performance

The stock has a market capitalization of $531.90 million, a P/E ratio of -1.45 and a beta of 2.30. The firm has a 50 day moving average of $1.56 and a 200-day moving average of $1.62.

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

Insider Buying and Selling at Wheels Up Experience

In related news, COO David L. Holtz sold 36,318 shares of the firm’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 owned 954,254 shares of the company’s stock, valued at approximately $2,786,421.68. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Briffa sold 86,813 shares of Wheels Up Experience stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the sale, the insider directly owned 866,670 shares in the company, valued at approximately $1,066,004.10. This represents a 9.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 186,746 shares of company stock worth $310,004. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new position in shares of Wheels Up Experience during the third quarter worth approximately $25,000. Creative Planning bought a new position in Wheels Up Experience during the 2nd quarter worth $25,000. Hudson Bay Capital Management LP acquired a new stake in shares of Wheels Up Experience during the second quarter worth $25,000. CWM LLC boosted its position 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 acquiring an additional 10,827 shares during the period. Finally, Beck Mack & Oliver LLC acquired a new position in shares of Wheels Up Experience in the second quarter valued at about $27,000. Institutional investors and hedge funds own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

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.