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

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 unusually-strong trading volume on Friday . Approximately 6,852,576 shares traded 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 Upgrades and Downgrades

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 Up 8.9%

The stock has a market cap of $1.41 billion, a P/E ratio of -4.29 and a beta of 2.33. The stock has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.28.

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

Insider Activity at Wheels Up Experience

In related news, CAO Alexander Chatkewitz sold 23,959 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $1.46, for a total transaction of $34,980.14. Following the sale, the chief accounting officer owned 507,462 shares of the company's stock, valued at approximately $740,894.52. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wheels Up Experience

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Wheels Up Experience by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,978,652 shares of the company's stock valued at $3,266,000 after purchasing an additional 13,372 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Wheels Up Experience by 49.6% during the 4th quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock worth $71,000 after buying an additional 14,299 shares during the period. Barclays PLC lifted its stake in Wheels Up Experience by 11.0% in the fourth quarter. Barclays PLC now owns 142,056 shares of the company's stock valued at $234,000 after buying an additional 14,117 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Wheels Up Experience in the fourth quarter valued at approximately $115,000. Finally, First Trust Advisors LP acquired a new position in shares of Wheels Up Experience in the fourth quarter valued at approximately $1,264,000. 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.