Wheels Up Experience (NYSE:UP) Shares Gap Down - Time to Sell?

Key Points

• Wheels Up Experience Inc. shares opened lower at $1.30 after closing at $1.35, with recent trading showing a slight recovery to $1.33.
• Analysts upgraded Wheels Up from a "sell" rating to a "hold" rating, indicating a potential shift in market sentiment.
• Institutional investors hold approximately 98.20% of Wheels Up's stock, with significant recent purchases indicating increased institutional interest.

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.35, but opened at $1.30. Wheels Up Experience shares last traded at $1.33, with a volume of 28,694 shares changing hands.

Wall Street Analysts Forecast Growth

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

Wheels Up Experience Trading Up 4.0%

The company has a market cap of $995.78 million, a P/E ratio of -2.91 and a beta of 2.33. The company's 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.28.

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 for the quarter. The firm had revenue of $189.64 million during the quarter.

Hedge Funds Weigh In On Wheels Up Experience

A number of hedge funds have recently modified their holdings of UP. Marshall Wace LLP purchased a new position in shares of Wheels Up Experience during the 4th quarter valued at $115,000. Wells Fargo & Company MN raised its position in Wheels Up Experience by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock valued at $71,000 after acquiring an additional 14,299 shares in the last quarter. First Trust Advisors LP acquired a new stake in Wheels Up Experience in the fourth quarter valued at approximately $1,264,000. BNP Paribas Financial Markets bought a new position in shares of Wheels Up Experience during the 4th quarter valued at $199,000. Finally, Bank of America Corp DE boosted its holdings in Wheels Up Experience by 72.5% in the fourth quarter. Bank of America Corp DE now owns 73,560 shares of the company's stock worth $121,000 after purchasing an additional 30,919 shares in the last quarter. 98.20% of the stock is currently 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.