Wheels Up Experience Inc. (NYSE:UP) Sees Large Decline in Short Interest

Wheels Up Experience Inc. (NYSE:UP) saw a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 674,804 shares, a decline of 95.6% from the April 15th total of 15,387,310 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 202,521 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP purchased a new position in Wheels Up Experience in the second quarter valued at about $25,000. Creative Planning purchased a new stake in shares of Wheels Up Experience during the 2nd quarter worth approximately $25,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Wheels Up Experience in the 3rd quarter worth approximately $25,000. Beck Mack & Oliver LLC acquired a new stake in shares of Wheels Up Experience in the 2nd quarter worth approximately $27,000. Finally, Rooted Wealth Advisors Inc. increased its stake in Wheels Up Experience by 80.2% in the 4th quarter. Rooted Wealth Advisors Inc. now owns 45,041 shares of the company’s stock valued at $30,000 after purchasing an additional 20,041 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on UP. Wall Street Zen upgraded shares of Wheels Up Experience from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wheels Up Experience has a consensus rating of “Sell”.

Wheels Up Experience Stock Performance

NYSE:UP traded up $0.37 during trading hours on Wednesday, hitting $5.39. The company’s stock had a trading volume of 293,901 shares, compared to its average volume of 208,621. Wheels Up Experience has a 52-week low of $4.69 and a 52-week high of $70.00. The business’s 50-day moving average is $9.10 and its two-hundred day moving average is $14.05. The company has a market capitalization of $195.04 million, a PE ratio of -0.68 and a beta of 1.86.

Wheels Up Experience (NYSE:UP) last issued its earnings results on Monday, May 11th. The company reported ($2.29) EPS for the quarter. The business had revenue of $168.92 million for the quarter.

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.