Wheels Up Experience (NYSE:UP) Shares Up 8.2% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP) rose 8.2% during trading on Wednesday . The company traded as high as $2.25 and last traded at $2.24. Approximately 337,784 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,036,870 shares. The stock had previously closed at $2.07.

Wheels Up Experience Stock Up 6.3 %

The firm has a market cap of $1.53 billion, a P/E ratio of -0.22 and a beta of 2.23. The firm’s 50 day moving average is $2.03 and its two-hundred day moving average is $2.40. The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter. The business 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 Trading of Wheels Up Experience

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in Wheels Up Experience by 1,399.2% in the second quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock valued at $500,000 after purchasing an additional 246,742 shares in the last quarter. CCG Wealth Management LLC acquired a new position in Wheels Up Experience during the first quarter worth $287,000. Rhumbline Advisers raised its position 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 acquiring an additional 86,766 shares in the last quarter. CVA Family Office LLC acquired a new stake in Wheels Up Experience in the first quarter valued at $175,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of Wheels Up Experience in the 1st quarter valued at about $145,000. 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.