Wheels Up Experience (NYSE:UP) Trading Down 5.5% – Time to Sell?

Wheels Up Experience Inc. (NYSE:UP)’s share price was down 5.5% during trading on Thursday . The stock traded as low as $2.06 and last traded at $2.08. Approximately 168,079 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,034,221 shares. The stock had previously closed at $2.20.

Wheels Up Experience Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01. The stock’s 50 day moving average is $2.04 and its 200 day moving average is $2.40. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -0.21 and a beta of 2.23.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 43.79%. The business had revenue of $196.29 million for the quarter.

Institutional Trading of Wheels Up Experience

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Wheels Up Experience by 1,399.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after acquiring an additional 246,742 shares during the period. Instrumental Wealth LLC grew its position in shares of Wheels Up Experience by 21.1% in the first quarter. Instrumental Wealth LLC now owns 189,268 shares of the company’s stock valued at $545,000 after purchasing an additional 32,963 shares during the period. The Manufacturers Life Insurance Company lifted its position in Wheels Up Experience by 44.4% during the second quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock worth $223,000 after buying an additional 36,201 shares during the period. CCG Wealth Management LLC acquired a new stake in Wheels Up Experience in the 1st quarter worth about $287,000. Finally, Rhumbline Advisers raised its stake in Wheels Up Experience by 15,329.7% during the second quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock worth $165,000 after purchasing an additional 86,766 shares during the period. 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 membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.