Wheels Up Experience (NYSE:UP) Trading Down 8%

Wheels Up Experience Inc. (NYSE:UP) shares dropped 8% on Thursday . The company traded as low as $2.41 and last traded at $2.42. Approximately 194,390 shares were traded during trading, a decline of 81% from the average daily volume of 1,036,916 shares. The stock had previously closed at $2.63.

Wheels Up Experience Stock Down 10.0 %

The company has a debt-to-equity ratio of 238.01, a quick ratio of 0.36 and a current ratio of 0.38. The business’s 50 day simple moving average is $2.64 and its two-hundred day simple moving average is $2.80.

Wheels Up Experience (NYSE:UP) last announced its earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter. The company had revenue of $197.10 million for the quarter. Wheels Up Experience had a negative net margin of 44.05% and a negative return on equity of 495.46%.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds and other institutional investors have recently modified their holdings of UP. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Wheels Up Experience in the 4th quarter worth $36,000. Instrumental Wealth LLC boosted its holdings in Wheels Up Experience by 315.6% in the 4th quarter. Instrumental Wealth LLC now owns 156,305 shares of the company’s stock worth $531,000 after buying an additional 118,699 shares during the period. American Financial Advisors LLC bought a new position in Wheels Up Experience in the 4th quarter worth $34,000. Victory Capital Management Inc. bought a new position in Wheels Up Experience in the 4th quarter worth $38,000. Finally, Kore Advisors LP bought a new position in Wheels Up Experience in the 4th quarter worth $88,552,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

Wheels Up Experience Company Profile

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.