Wheels Up Experience (NYSE:UP) Stock Price Down 2.3% – Here’s Why

Wheels Up Experience Inc. (NYSE:UP) dropped 2.3% during mid-day trading on Friday . The stock traded as low as $1.07 and last traded at $1.09. Approximately 97,001 shares changed hands during trading, a decline of 90% from the average daily volume of 1,014,197 shares. The stock had previously closed at $1.11.

Wheels Up Experience Price Performance

The stock’s 50-day moving average is $1.45 and its 200 day moving average is $1.86. The stock has a market cap of $757.22 million, a price-to-earnings ratio of -2.17 and a beta of 2.42.

Wheels Up Experience (NYSE:UP) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.09) earnings per share for the quarter. The business had revenue of $204.82 million during the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%.

Institutional Trading of Wheels Up Experience

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Focus Partners Wealth purchased a new position in Wheels Up Experience in the fourth quarter valued at about $110,000. Bank of America Corp DE raised its holdings in Wheels Up Experience by 72.5% during 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 during the last quarter. BNP Paribas Financial Markets purchased a new stake in Wheels Up Experience during the fourth quarter worth $199,000. Northern Trust Corp grew its holdings in Wheels Up Experience by 10.7% in the fourth quarter. Northern Trust Corp now owns 840,804 shares of the company’s stock valued at $1,387,000 after purchasing an additional 81,293 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Wheels Up Experience by 97.3% in the fourth 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. Institutional investors and hedge funds 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 membership programs consisting of Connect that offers members variable dynamic pricing on a per trip basis and flexibility on their schedule; Core for private flyers; and UP for Business for small and medium enterprise, and large corporate customers for whom it is primary provider of private flights, as well as supplementary solution to their own aircraft operations.