Wheels Up Experience (NYSE:UP) Reaches New 12-Month High - What's Next?

Key Points

• Wheels Up Experience's stock reached a new 52-week high of $3.15, closing at $3.01 with a trading volume of over 24 million shares.
• Wall Street Zen has upgraded the stock from a "sell" to a "hold" rating, reflecting a more favorable outlook for investors.
• The company reported a quarterly revenue of $189.64 million with an EPS of ($0.11), reflecting ongoing financial challenges despite a strong stock performance.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $3.15 and last traded at $3.01, with a volume of 24302983 shares trading hands. The stock had previously closed at $2.39.

Wall Street Analyst Weigh In

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

Wheels Up Experience Price Performance

The firm has a market capitalization of $2.07 billion, a P/E ratio of -6.31 and a beta of 2.33. The stock's fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.34.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $189.64 million for the quarter.

Insider Activity

In other news, insider Brian Joseph Kedzior sold 25,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $2.94, for a total transaction of $73,500.00. Following the transaction, the insider directly owned 834,914 shares of the company's stock, valued at approximately $2,454,647.16. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Donald Lee Moak sold 43,166 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $3.11, for a total value of $134,246.26. Following the sale, the director owned 180,431 shares of the company's stock, valued at approximately $561,140.41. This represents a 19.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,685 shares of company stock valued at $489,425 over the last three months. Company insiders own 0.15% of the company's stock.

Institutional Investors Weigh In On Wheels Up Experience

Institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP purchased a new stake in shares of Wheels Up Experience during the second quarter worth about $25,000. Tower Research Capital LLC TRC boosted its stake in Wheels Up Experience by 830.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 89,340 shares of the company's stock worth $96,000 after purchasing an additional 79,742 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Wheels Up Experience during the 2nd quarter valued at approximately $40,000. Beck Mack & Oliver LLC purchased a new position in shares of Wheels Up Experience in the second quarter worth $27,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Wheels Up Experience in the second quarter worth $172,000. Institutional investors and hedge funds own 98.20% of the company's stock.

Wheels Up Experience Company Profile

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.