Wheels Up Experience (NYSE:UP) Shares Gap Up – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP) shares gapped up prior to trading on Thursday . The stock had previously closed at $0.7028, but opened at $0.75. Wheels Up Experience shares last traded at $0.6970, with a volume of 969,948 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on UP shares. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Wheels Up Experience Stock Down 12.1%

The firm has a market capitalization of $446.02 million, a PE ratio of -1.24 and a beta of 2.34. The business’s 50-day moving average price is $0.72 and its 200-day moving average price is $1.32.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.03) earnings per share for the quarter.

Institutional Investors Weigh In On Wheels Up Experience

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in shares of Wheels Up Experience in the 3rd quarter valued at approximately $25,000. Creative Planning bought a new position in Wheels Up Experience during the second quarter valued at approximately $25,000. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience in the second quarter valued at approximately $25,000. CWM LLC grew its position in Wheels Up Experience by 77.0% in the second quarter. CWM LLC now owns 24,880 shares of the company’s stock worth $27,000 after acquiring an additional 10,827 shares in the last quarter. Finally, Beck Mack & Oliver LLC acquired a new position in shares of Wheels Up Experience during the 2nd quarter worth $27,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

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.