Wheels Up Experience (NYSE:UP) Shares Down 4%

Wheels Up Experience Inc. (NYSE:UP) dropped 4% during mid-day trading on Wednesday . The company traded as low as $1.63 and last traded at $1.66. Approximately 274,396 shares changed hands during trading, a decline of 65% from the average daily volume of 782,858 shares. The stock had previously closed at $1.73.

Wheels Up Experience Stock Performance

The company has a quick ratio of 0.36, a current ratio of 0.38 and a debt-to-equity ratio of 238.01. The company’s fifty day simple moving average is $2.30 and its two-hundred day simple moving average is $2.84.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter. Wheels Up Experience had a negative net margin of 44.05% and a negative return on equity of 495.46%. The business had revenue of $197.10 million during the quarter.

Institutional Trading of Wheels Up Experience

Hedge funds and other institutional investors have recently modified their holdings of the stock. Knighthead Capital Management LLC acquired a new position in shares of Wheels Up Experience during the 3rd quarter worth approximately $125,365,000. Kore Advisors LP acquired a new position in shares of Wheels Up Experience during the 4th quarter worth about $88,552,000. Instrumental Wealth LLC lifted its stake in Wheels Up Experience by 21.1% in the 1st quarter. Instrumental Wealth LLC now owns 189,268 shares of the company’s stock valued at $545,000 after purchasing an additional 32,963 shares during the last quarter. CCG Wealth Management LLC acquired a new position in Wheels Up Experience during the first quarter worth approximately $287,000. Finally, CVA Family Office LLC bought a new position in shares of Wheels Up Experience during the 1st quarter worth approximately $175,000. 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.