Wheels Up Experience (NYSE:UP) Shares Up 9.4% – Time to Buy?

Shares of Wheels Up Experience Inc. (NYSE:UP) shot up 9.4% during mid-day trading on Wednesday . The company traded as high as $2.24 and last traded at $2.22. 675,963 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 1,013,659 shares. The stock had previously closed at $2.03.

Wheels Up Experience Price Performance

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -4.02 and a beta of 2.24. The company’s 50 day moving average is $2.15 and its 200-day moving average is $2.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01.

Institutional Trading of Wheels Up Experience

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in Wheels Up Experience in the 1st quarter valued at $67,000. Bank of New York Mellon Corp increased its position in Wheels Up Experience by 1,399.2% during the second 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. CIBC Asset Management Inc bought a new stake in Wheels Up Experience in the 2nd quarter valued at about $37,000. Rhumbline Advisers raised its position in shares of Wheels Up Experience by 15,329.7% in the second quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock valued at $165,000 after buying an additional 86,766 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Wheels Up Experience during the 2nd quarter valued at $28,000. Institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

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.