Wheels Up Experience (NYSE:UP) Shares Gap Down - Here's Why

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.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) gapped down before the market opened 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.

Analyst Ratings Changes

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

Wheels Up Experience Trading Up 1.1%

The firm has a market cap of $953.85 million, a PE ratio of -2.79 and a beta of 2.33. The firm has a fifty day simple moving average of $1.39 and a two-hundred day simple moving average of $1.29.

Wheels Up Experience (NYSE:UP - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. The firm had revenue of $177.53 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC bought a new position in Wheels Up Experience during the 1st quarter valued at approximately $27,000. CWM LLC increased its position in Wheels Up Experience by 77.0% during the 2nd quarter. CWM LLC now owns 24,880 shares of the company's stock valued at $27,000 after buying an additional 10,827 shares in the last quarter. Hsbc Holdings PLC increased its position in Wheels Up Experience by 97.3% during the 4th quarter. Hsbc Holdings PLC now owns 21,775 shares of the company's stock valued at $35,000 after buying an additional 10,740 shares in the last quarter. EWA LLC bought a new position in Wheels Up Experience during the 1st quarter valued at approximately $43,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in Wheels Up Experience by 197.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,534 shares of the company's stock valued at $43,000 after buying an additional 26,917 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.