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

Key Points

• Wheels Up Experience Inc. saw a dramatic increase in short interest of 35,424.5% in July, raising the total short interest to over 10 million shares.
• The company's stock is currently trading at $1.35 with a market cap of approximately $941.27 million, reflecting a one-year range between $0.74 and $2.78.
• Recent changes in institutional holdings show strong interest, with 98.20% of the stock now owned by institutional investors, indicating growing confidence in the company's future.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 10,160,000 shares, agrowthof35,424.5% from the June 30th total of 28,600 shares. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 8.2 days. Approximately2.4% of the company's shares are sold short. Approximately2.4% of the company's shares are sold short. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 8.2 days.

Hedge Funds Weigh In On Wheels Up Experience

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Wheels Up Experience by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company's stock worth $3,266,000 after buying an additional 13,372 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Wheels Up Experience by 10.7% in the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company's stock worth $1,387,000 after buying an additional 81,293 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Wheels Up Experience in the fourth quarter worth $1,264,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Wheels Up Experience in the second quarter worth $198,000. Finally, AQR Capital Management LLC purchased a new position in shares of Wheels Up Experience in the first quarter worth $156,000. 98.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Wheels Up Experience from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th.

Wheels Up Experience Price Performance

UP stock traded down $0.01 during mid-day trading on Tuesday, reaching $1.38. The company had a trading volume of 127,239 shares, compared to its average volume of 985,440. The company has a market capitalization of $960.84 million, a PE ratio of -2.81 and a beta of 2.33. The firm has a 50 day moving average of $1.38 and a 200 day moving average of $1.28. Wheels Up Experience has a 12 month low of $0.74 and a 12 month high of $2.78.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.