Wheels Up Experience (NYSE:UP) Stock Price Down 3.7% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP)’s share price dropped 3.7% during trading on Wednesday . The stock traded as low as $2.07 and last traded at $2.10. Approximately 89,430 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,024,962 shares. The stock had previously closed at $2.18.

Wheels Up Experience Trading Down 2.8 %

The company has a debt-to-equity ratio of 238.01, a current ratio of 0.33 and a quick ratio of 0.31. The firm has a market capitalization of $1.48 billion, a P/E ratio of -0.21 and a beta of 2.23. The firm has a fifty day simple moving average of $2.07 and a two-hundred day simple moving average of $2.38.

Wheels Up Experience (NYSE:UP) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter. The business had revenue of $196.29 million during the quarter. Wheels Up Experience had a negative return on equity of 796.67% and a negative net margin of 43.79%.

Institutional Investors Weigh In On Wheels Up Experience

Institutional investors and hedge funds have recently modified their holdings of the company. Koss Olinger Consulting LLC bought a new position in shares of Wheels Up Experience in the third quarter worth approximately $26,000. Renaissance Technologies LLC purchased a new stake in Wheels Up Experience in the second quarter worth approximately $28,000. Quadrature Capital Ltd bought a new position in Wheels Up Experience during the fourth quarter valued at approximately $34,000. CIBC Asset Management Inc bought a new position in Wheels Up Experience during the second quarter valued at approximately $37,000. Finally, Capital Square LLC purchased a new position in shares of Wheels Up Experience during the first quarter worth approximately $41,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

About Wheels Up Experience

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.