Wheels Up Experience (NYSE:UP) Trading Down 4.8% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP)’s stock price dropped 4.8% on Monday . The company traded as low as $1.97 and last traded at $1.98. Approximately 64,419 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,010,999 shares. The stock had previously closed at $2.08.

Wheels Up Experience Price 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 firm has a market cap of $1.37 billion, a price-to-earnings ratio of -0.53 and a beta of 2.24. The stock has a 50-day moving average of $2.11 and a two-hundred day moving average of $2.35.

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

Institutional Investors Weigh In On Wheels Up Experience

Hedge funds have recently bought and sold shares of the business. Koss Olinger Consulting LLC purchased a new stake in Wheels Up Experience in the 3rd quarter worth about $26,000. Renaissance Technologies LLC purchased a new stake in shares of Wheels Up Experience during the 2nd quarter worth about $28,000. CIBC Asset Management Inc purchased a new stake in shares of Wheels Up Experience during the 2nd quarter worth about $37,000. Capital Square LLC purchased a new stake in shares of Wheels Up Experience during the 1st quarter worth about $41,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Wheels Up Experience during the 3rd quarter worth about $56,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.