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

Wheels Up Experience Inc. (NYSE:UP - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $1.51, but opened at $1.58. Wheels Up Experience shares last traded at $1.55, with a volume of 55,153 shares changing hands.

Wheels Up Experience Stock Performance

The company has a market cap of $999.27 million, a price-to-earnings ratio of -2.86 and a beta of 2.38. The company has a fifty day moving average of $1.21 and a two-hundred day moving average of $1.44.

Wheels Up Experience (NYSE:UP - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%. The firm had revenue of $177.53 million during the quarter.

Institutional Investors Weigh In On Wheels Up Experience

Several hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Wheels Up Experience during the fourth quarter worth $115,000. Wells Fargo & Company MN lifted 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. CIBC Private Wealth Group LLC grew its position in shares of Wheels Up Experience by 48,303.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 75,025 shares of the company's stock valued at $119,000 after buying an additional 74,870 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Wheels Up Experience in the fourth quarter valued at about $1,264,000. Finally, Corient Private Wealth LLC bought a new position in shares of Wheels Up Experience during the fourth quarter worth about $339,000. 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.