Wheels Up Experience (NYSE:UP) Sees Strong Trading Volume - Here's What Happened

Key Points

• Wheels Up Experience Inc. experienced a significant increase in trading volume, with 6.85 million shares changing hands, a 612% rise from the previous day's volume.
• The company's stock price rose from $1.42 to $1.83, following an upgrade from a "sell" to a "hold" rating by Wall Street Zen.
• Wheels Up reported a quarterly revenue of $189.64 million and an earnings per share (EPS) of ($0.11), highlighting its current financial performance.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw an uptick in trading volume on Friday . 6,852,576 shares changed hands during mid-day trading, an increase of 612% from the previous session's volume of 962,427 shares.The stock last traded at $1.83 and had previously closed at $1.42.

Analyst Ratings Changes

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

Wheels Up Experience Stock Performance

The stock has a market cap of $1.26 billion, a PE ratio of -3.83 and a beta of 2.33. The firm has a fifty day moving average price of $1.38 and a 200 day moving average price of $1.28.

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

Institutional Investors Weigh In On Wheels Up Experience

Several institutional investors and hedge funds have recently added to or reduced their stakes in UP. Hsbc Holdings PLC increased its position in Wheels Up Experience by 97.3% during the fourth quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock worth $35,000 after purchasing an additional 10,740 shares during the last quarter. Creative Planning purchased a new position in Wheels Up Experience in the second quarter worth approximately $25,000. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience during the second quarter worth $25,000. CWM LLC lifted its stake in shares of Wheels Up Experience by 77.0% in the 2nd quarter. CWM LLC now owns 24,880 shares of the company's stock valued at $27,000 after purchasing an additional 10,827 shares during the last quarter. Finally, Beck Mack & Oliver LLC purchased a new position in shares of Wheels Up Experience during the 2nd quarter worth $27,000. 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.

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