Wheels Up Experience (NYSE:UP) Stock Price Down 6% – Here’s What Happened

Wheels Up Experience Inc. (NYSE:UP)’s stock price dropped 6% on Thursday . The company traded as low as $2.03 and last traded at $2.04. Approximately 229,161 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,014,733 shares. The stock had previously closed at $2.17.

Wheels Up Experience Trading Down 0.5 %

The company has a debt-to-equity ratio of 238.01, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $1.40 billion, a P/E ratio of -4.00 and a beta of 2.24. The company’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.32.

Hedge Funds Weigh In On Wheels Up Experience

Hedge funds and other institutional investors have recently modified their holdings of the business. Koss Olinger Consulting LLC purchased a new stake in shares of Wheels Up Experience during the 3rd quarter worth $26,000. Renaissance Technologies LLC purchased a new stake in shares of Wheels Up Experience during the second quarter valued at about $28,000. Stifel Financial Corp purchased a new stake in shares of Wheels Up Experience during the third quarter valued at about $41,000. CIBC Asset Management Inc bought a new stake in shares of Wheels Up Experience in the 2nd quarter valued at about $37,000. Finally, SG Americas Securities LLC purchased a new position in shares of Wheels Up Experience in the 3rd quarter worth approximately $56,000. 98.20% of the stock is currently owned by 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.