Wheels Up Experience (NYSE:UP) Sets New 1-Year 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 stock traded as high as $3.15 and last traded at $3.01, with a volume of 24302983 shares changing hands. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

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

Wheels Up Experience Price Performance

The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.31 and a beta of 2.40. The business's 50-day moving average price is $1.59 and its 200 day moving average price is $1.34.

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

Insiders Place Their Bets

In related news, CAO Alexander Chatkewitz sold 23,959 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $1.46, for a total value of $34,980.14. Following the completion of the transaction, the chief accounting officer owned 507,462 shares of the company's stock, valued at approximately $740,894.52. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Donald Lee Moak sold 43,166 shares of Wheels Up Experience stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 in the company, valued at $561,140.41. This represents a 19.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,685 shares of company stock worth $489,425. 0.15% of the stock is owned by insiders.

Institutional Trading of Wheels Up Experience

Institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP acquired a new position in Wheels Up Experience during the 2nd quarter worth $25,000. Tower Research Capital LLC TRC grew its stake in Wheels Up Experience by 830.8% in the second 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 bought a new stake in Wheels Up Experience in the second quarter valued at about $40,000. Beck Mack & Oliver LLC bought a new stake in Wheels Up Experience in the second quarter valued at about $27,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Wheels Up Experience during the second quarter valued at approximately $172,000. 98.20% of the stock is owned by institutional investors and hedge funds.

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.