Wheels Up Experience (NYSE:UP) Shares Down 6.4% – Time to Sell?

Shares of Wheels Up Experience Inc. (NYSE:UP) dropped 6.4% during trading on Wednesday . The stock traded as low as $0.8740 and last traded at $0.8710. Approximately 1,328,250 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 12,039,424 shares. The stock had previously closed at $0.9304.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UP shares. Wall Street Zen lowered Wheels Up Experience from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Wheels Up Experience in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Wheels Up Experience currently has a consensus rating of “Sell”.

Wheels Up Experience Stock Performance

The company’s 50-day moving average price is $0.78 and its 200-day moving average price is $1.42. The firm has a market capitalization of $630.05 million, a PE ratio of -1.72 and a beta of 2.34.

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

Insider Activity

In related news, insider Mark Briffa sold 86,813 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $1.23, for a total transaction of $106,779.99. Following the completion of the sale, the insider owned 866,670 shares in the company, valued at $1,066,004.10. The trade was a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Meaghan Danielle Wells sold 47,931 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 526,681 shares of the company’s stock, valued at $642,550.82. This trade represents a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wheels Up Experience

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd purchased a new position in Wheels Up Experience during the 2nd quarter worth approximately $198,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Wheels Up Experience by 197.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company’s stock worth $43,000 after acquiring an additional 26,917 shares during the last quarter. CWM LLC grew its position in shares of Wheels Up Experience by 77.0% during 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 during the last quarter. Militia Capital Partners LP acquired a new position in shares of Wheels Up Experience in the 3rd quarter valued at $644,000. Finally, Clearstead Advisors LLC purchased a new stake in Wheels Up Experience in the 3rd quarter valued at $37,000. 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.