Wheels Up Experience (NYSE:UP) Stock Price Down 5.4% - What's Next?

Wheels Up Experience Inc. (NYSE:UP - Get Free Report)'s share price dropped 5.4% on Tuesday . The company traded as low as $2.10 and last traded at $2.11. Approximately 156,551 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,018,551 shares. The stock had previously closed at $2.23.

Wheels Up Experience Price Performance

The stock has a market capitalization of $1.50 billion, a PE ratio of -0.21 and a beta of 2.23. The stock's 50 day moving average is $2.09 and its two-hundred day moving average is $2.36. The company has a debt-to-equity ratio of 238.01, a quick ratio of 0.31 and a current ratio of 0.33.

Wheels Up Experience (NYSE:UP - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter. The company 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%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UP. Bank of New York Mellon Corp lifted its stake in Wheels Up Experience by 1,399.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,377 shares of the company's stock worth $500,000 after purchasing an additional 246,742 shares in the last quarter. Rhumbline Advisers raised its position in shares of Wheels Up Experience by 15,329.7% during 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 during the period. The Manufacturers Life Insurance Company raised its position in shares of Wheels Up Experience by 44.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,772 shares of the company's stock valued at $223,000 after buying an additional 36,201 shares during the period. Instrumental Wealth LLC raised its position in shares of Wheels Up Experience by 21.1% during the 1st quarter. Instrumental Wealth LLC now owns 189,268 shares of the company's stock valued at $545,000 after buying an additional 32,963 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Wheels Up Experience during the 1st quarter valued at approximately $67,000. 98.20% of the stock is owned by hedge funds and other institutional investors.

Wheels Up Experience Company Profile

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.