Wheels Up Experience (NYSE:UP) Shares Gap Up - Should You Buy?

Key Points

• Wheels Up Experience Inc. shares gapped up from $1.80 to $1.88 before the market opened on Monday, but last traded at $1.77 with a trading volume of 1,736,895 shares.
• Analysts at Wall Street Zen upgraded Wheels Up from a "sell" to a "hold" rating, indicating a shift in market sentiment.
• Recent hedge fund activity shows significant investment interest, with institutional investors owning 98.20% of the company's stock, reflecting strong confidence in the firm's future.

Shares of Wheels Up Experience Inc. (NYSE:UP - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $1.80, but opened at $1.88. Wheels Up Experience shares last traded at $1.77, with a volume of 1,736,895 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 1.0%

The firm has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.29. The firm has a market cap of $1.41 billion, a PE ratio of -4.30 and a beta of 2.33.

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

Insiders Place Their Bets

In other Wheels Up Experience news, CAO Alexander Chatkewitz sold 23,959 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $1.46, for a total value of $34,980.14. Following the completion of the sale, the chief accounting officer owned 507,462 shares in the company, valued at approximately $740,894.52. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Creative Planning bought a new position in shares of Wheels Up Experience in the 2nd quarter worth approximately $25,000. Hudson Bay Capital Management LP bought a new position in shares of Wheels Up Experience in the 2nd quarter worth approximately $25,000. Byrne Asset Management LLC bought a new position in shares of Wheels Up Experience in the 1st quarter worth approximately $27,000. CWM LLC raised its position 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 worth $27,000 after acquiring an additional 10,827 shares in the last quarter. Finally, Beck Mack & Oliver LLC bought a new position in shares of Wheels Up Experience in the 2nd quarter worth approximately $27,000. Institutional investors own 98.20% of the company's stock.

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.