Wheels Up Experience (NYSE:UP) Trading 9.9% Higher – Still a Buy?

Shares of Wheels Up Experience Inc. (NYSE:UP) shot up 9.9% during mid-day trading on Monday . The stock traded as high as $2.44 and last traded at $2.44. 263,259 shares traded hands during trading, a decline of 74% from the average session volume of 1,014,028 shares. The stock had previously closed at $2.22.

Wheels Up Experience Trading Up 8.3 %

The company has a quick ratio of 0.22, a current ratio of 0.31 and a debt-to-equity ratio of 238.01. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -5.22 and a beta of 2.24. The firm has a 50 day moving average price of $2.18 and a two-hundred day moving average price of $2.32.

Institutional Investors Weigh In On Wheels Up Experience

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Wheels Up Experience by 1,399.2% during the second 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. CIBC Asset Management Inc acquired a new stake in shares of Wheels Up Experience in the 2nd quarter valued at about $37,000. Rhumbline Advisers increased its position in Wheels Up Experience by 15,329.7% in the 2nd 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. Renaissance Technologies LLC acquired a new position in Wheels Up Experience during the 2nd quarter worth approximately $28,000. Finally, SG Americas Securities LLC bought a new position in Wheels Up Experience in the third quarter worth approximately $56,000. Institutional investors 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.