Wheels Up Experience (NYSE:UP) Shares Gap Down – Time to Sell?

Wheels Up Experience Inc. (NYSE:UP) shares gapped down before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.43. Wheels Up Experience shares last traded at $1.56, with a volume of 533,495 shares traded.

Wall Street Analysts Forecast Growth

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

Wheels Up Experience Price Performance

The business has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.31. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -3.29 and a beta of 2.30.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $177.53 million during the quarter.

Hedge Funds Weigh In On Wheels Up Experience

A number of institutional investors have recently bought and sold shares of UP. Hsbc Holdings PLC grew its position in shares of Wheels Up Experience by 97.3% in the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company’s stock valued at $35,000 after purchasing an additional 10,740 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Wheels Up Experience in the first quarter valued at approximately $27,000. EWA LLC acquired a new position in shares of Wheels Up Experience in the first quarter valued at approximately $43,000. Wells Fargo & Company MN grew its position in shares of 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 purchasing an additional 14,299 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Wheels Up Experience in the fourth quarter valued at approximately $110,000. 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 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.