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

Key Points

• Wheels Up Experience shares experienced a significant increase in trading volume, with approximately 2.4 million shares traded, up 35% from the previous session.
• The company was upgraded from a "sell" to a "hold" rating by Wall Street Zen after reporting a loss of ($0.11) earnings per share and revenue of $189.64 million in its latest quarterly earnings.
• In recent insider trading, Director Donald Lee Moak sold 43,166 shares, resulting in a 19.31% decrease in his holdings, indicating potential concerns from insiders about the company's future performance.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) saw strong trading volume on Wednesday . 2,417,897 shares were traded during trading, an increase of 35% from the previous session's volume of 1,796,908 shares.The stock last traded at $2.46 and had previously closed at $2.42.

Analysts Set New Price Targets

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 Stock Down 13.9%

The business's 50-day simple moving average is $1.70 and its two-hundred day simple moving average is $1.37. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.54 and a beta of 2.41.

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

Insider Buying and Selling at Wheels Up Experience

In other news, insider Brian Joseph Kedzior sold 25,000 shares of Wheels Up Experience stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $2.94, for a total value of $73,500.00. Following the completion of the sale, the insider directly owned 834,914 shares of the company's stock, valued at approximately $2,454,647.16. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Godsman sold 75,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $2.83, for a total value of $212,250.00. Following the transaction, the insider directly owned 976,715 shares in the company, valued at approximately $2,764,103.45. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,003 shares of company stock valued at $595,474. Corporate insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hudson Bay Capital Management LP acquired a new stake in Wheels Up Experience in the 2nd quarter valued at about $25,000. Tower Research Capital LLC TRC raised its holdings 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 valued at $96,000 after acquiring an additional 79,742 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Wheels Up Experience in the second quarter worth approximately $40,000. Beck Mack & Oliver LLC acquired a new position in Wheels Up Experience during the 2nd quarter worth approximately $27,000. Finally, Brevan Howard Capital Management LP purchased a new position in Wheels Up Experience in the second quarter valued at $172,000. 98.20% of the stock is owned by institutional investors and hedge funds.

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.