Wheels Up Experience (NYSE:UP) Shares Gap Up – Time to Buy?

Wheels Up Experience Inc. (NYSE:UP) gapped up before the market opened on Monday . The stock had previously closed at $0.6760, but opened at $0.8551. Wheels Up Experience shares last traded at $0.8680, with a volume of 7,384,371 shares.

Wall Street Analysts Forecast Growth

UP has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Wheels Up Experience in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Wheels Up Experience from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wheels Up Experience presently has an average rating of “Sell”.

Wheels Up Experience Trading Up 5.2%

The company’s fifty day simple moving average is $0.81 and its 200 day simple moving average is $1.43. The stock has a market capitalization of $797.49 million, a P/E ratio of -2.17 and a beta of 2.34.

Wheels Up Experience (NYSE:UP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $185.49 million for the quarter.

Insider Activity at Wheels Up Experience

In other news, insider Mark Briffa sold 86,813 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $1.23, for a total value of $106,779.99. Following the sale, the insider directly owned 866,670 shares of the company’s stock, valued at approximately $1,066,004.10. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Meaghan Danielle Wells sold 47,931 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $1.22, for a total transaction of $58,475.82. Following the completion of the transaction, the insider owned 526,681 shares of the company’s stock, valued at approximately $642,550.82. The trade was a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wheels Up Experience

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Wheels Up Experience during the second quarter valued at $795,000. Militia Capital Partners LP purchased a new position in shares of Wheels Up Experience in the 3rd quarter worth approximately $644,000. Vanguard Group Inc. increased its position in Wheels Up Experience by 9.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,614,924 shares of the company’s stock valued at $6,651,000 after buying an additional 323,945 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Wheels Up Experience in the third quarter worth $463,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Wheels Up Experience by 350.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 305,419 shares of the company’s stock valued at $562,000 after purchasing an additional 237,639 shares during the period. 98.20% of the stock is owned by hedge funds and other institutional investors.

About Wheels Up Experience

Wheels Up Experience Inc is a membership-driven private aviation company that provides on-demand charter flights and flight card services to corporate clients and high-net-worth individuals. The company operates a combination of owned and managed aircraft, including turboprops and light to midsize jets, and supplements its fleet through a network of partner operators. Its digital platform allows members to book flights, manage itineraries and access empty-leg opportunities with real-time pricing and availability.

Through tiered membership programs, Wheels Up offers flexible access to private air travel without the long-term commitments typically associated with fractional ownership.