Wheels Up Experience (NYSE:UP) Shares Down 6.6%

Shares of Wheels Up Experience Inc. (NYSE:UP) dropped 6.6% during trading on Tuesday . The company traded as low as $2.25 and last traded at $2.26. Approximately 127,632 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,060,461 shares. The stock had previously closed at $2.42.

Wheels Up Experience Stock Performance

The company has a current ratio of 0.33, a quick ratio of 0.31 and a debt-to-equity ratio of 238.01. The company has a market cap of $1.55 billion, a PE ratio of -0.23 and a beta of 2.19. The firm’s 50-day simple moving average is $2.12 and its two-hundred day simple moving average is $2.45.

Wheels Up Experience (NYSE:UP) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $196.29 million during the quarter. Wheels Up Experience had a negative net margin of 43.79% and a negative return on equity of 796.67%.

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in Wheels Up Experience by 44.4% during the second quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company’s stock valued at $223,000 after purchasing an additional 36,201 shares during the period. Renaissance Technologies LLC purchased a new position in Wheels Up Experience during the second quarter valued at approximately $28,000. Rhumbline Advisers increased its holdings in Wheels Up Experience by 15,329.7% in the second quarter. Rhumbline Advisers now owns 87,332 shares of the company’s stock valued at $165,000 after buying an additional 86,766 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Wheels Up Experience in the second quarter worth about $37,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Wheels Up Experience by 1,399.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company’s stock worth $500,000 after acquiring an additional 246,742 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.