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

Wheels Up Experience Inc. (NYSE:UP) gapped up prior to trading on Wednesday . The stock had previously closed at $0.6299, but opened at $0.65. Wheels Up Experience shares last traded at $0.74, with a volume of 1,594,434 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UP. Wall Street Zen lowered shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Wheels Up Experience Trading Up 11.1%

The firm’s fifty day simple moving average is $1.00 and its 200 day simple moving average is $1.49. The company has a market cap of $505.20 million, a price-to-earnings ratio of -1.37 and a beta of 2.33.

Wheels Up Experience (NYSE:UP) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $185.49 million for the quarter.

Insider Transactions at Wheels Up Experience

In related news, insider Meaghan Danielle Wells sold 47,931 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $1.22, for a total transaction of $58,475.82. Following the completion of the sale, the insider owned 526,681 shares in the company, valued at $642,550.82. The trade was a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Briffa sold 86,813 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $1.23, for a total value of $106,779.99. Following the completion of the transaction, the insider directly owned 866,670 shares of the company’s stock, valued at $1,066,004.10. This trade represents a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC acquired a new stake in Wheels Up Experience during the 3rd quarter worth $25,000. Creative Planning purchased a new position in shares of Wheels Up Experience during the second quarter worth about $25,000. Hudson Bay Capital Management LP acquired a new stake in shares of Wheels Up Experience during the second quarter worth about $25,000. CWM LLC lifted its holdings in shares of Wheels Up Experience by 77.0% in the 2nd quarter. CWM LLC now owns 24,880 shares of the company’s stock valued at $27,000 after purchasing an additional 10,827 shares during the last quarter. Finally, Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 98.20% of the company’s stock.

Wheels Up Experience Company Profile

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.