Wheels Up Experience (NYSE:UP) Shares Gap Up – Should You Buy?

Wheels Up Experience Inc. (NYSE:UP)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.17, but opened at $2.28. Wheels Up Experience shares last traded at $2.38, with a volume of 3,758,647 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Wheels Up Experience from a “sell” rating to a “hold” rating in a report on Saturday, July 5th.

Wheels Up Experience Price Performance

The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -5.03 and a beta of 2.33. The business’s 50-day simple moving average is $1.44 and its two-hundred day simple moving average is $1.29.

Wheels Up Experience (NYSE:UP) last posted its earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $189.64 million for the quarter.

Insider Activity at Wheels Up Experience

In other news, CAO Alexander Chatkewitz sold 23,959 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $1.46, for a total transaction of $34,980.14. Following the transaction, the chief accounting officer directly owned 507,462 shares of the company’s stock, valued at approximately $740,894.52. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of Wheels Up Experience by 97.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock worth $35,000 after purchasing an additional 10,740 shares in the last quarter. CWM LLC lifted its position in shares of Wheels Up Experience by 77.0% during the second quarter. CWM LLC now owns 24,880 shares of the company’s stock worth $27,000 after purchasing an additional 10,827 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wheels Up Experience by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company’s stock worth $3,266,000 after purchasing an additional 13,372 shares in the last quarter. Barclays PLC lifted its position in shares of Wheels Up Experience by 11.0% during the fourth quarter. Barclays PLC now owns 142,056 shares of the company’s stock worth $234,000 after purchasing an additional 14,117 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Wheels Up Experience by 49.6% in the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company’s stock valued at $71,000 after acquiring an additional 14,299 shares in the last quarter. 98.20% of the stock is owned by institutional investors and hedge funds.

About Wheels Up Experience

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.