Wheels Up Experience (NYSE:UP) Stock Price Down 6%

Wheels Up Experience Inc. (NYSE:UP) dropped 6% on Wednesday . The company traded as low as $2.65 and last traded at $2.84. Approximately 1,472,761 shares were traded during mid-day trading, an increase of 51% from the average daily volume of 974,956 shares. The stock had previously closed at $3.02.

Wheels Up Experience Trading Up 7.3 %

The company has a debt-to-equity ratio of 238.01, a current ratio of 0.38 and a quick ratio of 0.36. The company’s fifty day simple moving average is $2.30 and its 200-day simple moving average is $2.87. The firm has a market capitalization of $2.26 billion, a PE ratio of -0.35 and a beta of 2.23.

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

Institutional Investors Weigh In On Wheels Up Experience

Hedge funds 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 valued at about $125,365,000. American Financial Advisors LLC purchased a new position in Wheels Up Experience in the 4th quarter valued at about $34,000. Victory Capital Management Inc. purchased a new position in shares of Wheels Up Experience during the 4th quarter valued at approximately $38,000. Kore Advisors LP acquired a new position in Wheels Up Experience during the 4th quarter worth $88,552,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Wheels Up Experience during the fourth quarter valued at approximately $36,000. 98.20% of the stock is 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 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.