Wheels Up Experience (NYSE:UP) Trading Down 6.8% – Should You Sell?

Wheels Up Experience Inc. (NYSE:UP) shares were down 6.8% during mid-day trading on Tuesday . The company traded as low as $2.43 and last traded at $2.45. Approximately 124,342 shares changed hands during trading, a decline of 88% from the average daily volume of 1,017,822 shares. The stock had previously closed at $2.63.

Wheels Up Experience Stock Down 4.6 %

The firm has a market capitalization of $1.75 billion, a P/E ratio of -4.86 and a beta of 2.24. The company has a debt-to-equity ratio of 238.01, a current ratio of 0.31 and a quick ratio of 0.22. The stock has a fifty day moving average of $2.17 and a 200 day moving average of $2.32.

Hedge Funds Weigh In On Wheels Up Experience

A number of hedge funds and other institutional investors have recently modified their holdings of UP. Bank of New York Mellon Corp grew its position in shares of 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 buying an additional 246,742 shares during the period. CIBC Asset Management Inc purchased a new position in Wheels Up Experience in the 2nd quarter worth about $37,000. Rhumbline Advisers grew 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 worth $165,000 after purchasing an additional 86,766 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Wheels Up Experience in the second quarter worth approximately $28,000. Finally, SG Americas Securities LLC bought a new stake in Wheels Up Experience during the third quarter valued at about $56,000. 98.20% of the stock is currently owned by hedge funds and other institutional investors.

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.