Wheels Up Experience (NYSE:UP) Shares Down 7.7% – Should You Sell?

Wheels Up Experience Inc. (NYSE:UP)’s stock price fell 7.7% during trading on Thursday . The stock traded as low as $1.00 and last traded at $1.0150. 1,600,883 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 12,831,968 shares. The stock had previously closed at $1.10.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen cut 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 report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wheels Up Experience currently has an average rating of “Sell”.

Wheels Up Experience Stock Down 7.7%

The stock has a 50 day moving average of $0.80 and a 200 day moving average of $1.43. The firm has a market capitalization of $732.54 million, a price-to-earnings ratio of -1.99 and a beta of 2.34.

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

Insider Activity

In other Wheels Up Experience news, insider Mark Briffa sold 86,813 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.23, for a total value of $106,779.99. Following the sale, the insider directly owned 866,670 shares in the company, valued at $1,066,004.10. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Meaghan Danielle Wells sold 47,931 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $1.22, for a total value of $58,475.82. Following the completion of the sale, the insider owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Wheels Up Experience

Large investors have recently made changes to their positions in the company. Creative Planning acquired a new stake in Wheels Up Experience in the second quarter valued at about $25,000. Kestra Private Wealth Services LLC purchased a new position in shares of Wheels Up Experience during the third quarter valued at approximately $25,000. Hudson Bay Capital Management LP bought a new stake in Wheels Up Experience during the second quarter worth $25,000. CWM LLC increased its holdings in Wheels Up Experience by 77.0% in the 2nd quarter. CWM LLC now owns 24,880 shares of the company’s stock worth $27,000 after acquiring an additional 10,827 shares during the last quarter. Finally, Beck Mack & Oliver LLC purchased a new stake in shares of Wheels Up Experience in the second quarter worth about $27,000. Institutional investors own 98.20% of the company’s stock.

About Wheels Up Experience

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.