The stock price of Wheels Up Experience Inc (NYSE: UP) has dropped by -5.99 compared to previous close of 2.17. prnewswire.com reported 2024-11-07 that Improvement in financial performance driven by operating initiatives over past year Fleet modernization plan represents next phase of strategic journey to profitability New credit facility expected to strengthen balance sheet; credit support from Delta Air Lines underscores commitment to strategic partnership ATLANTA, Nov. 7, 2024 /PRNewswire/ — Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the third quarter, which ended September 30, 2024. Third Quarter 2024 Highlights 1 Revenue was $194 million, stabilizing at levels consistent with the first and second quarters of 2024, though down year over year due primarily to the sale of non-core businesses and focus on profitable flying Adjusted Contribution Margin was 14.8%, the highest as a public company, and an increase of 380 basis points year over year and 700 basis points sequentially Net loss was $58 million for the quarter, an improvement of $87 million year over year and $39 million sequentially Adjusted EBITDA loss was $20 million, an improvement of $17 million sequentially and slightly worse year over year on lower revenues Net cash used in operating activities improved to an outflow of $15 million, a 94% improvement versus $250 million last year “After seven consecutive quarters of revenue contraction leading into 2024, the intentional improvements we have made to our business over the last year have stabilized our top line, expanded margins to record levels, and positioned us for growth,” said George Mattson, Chief Executive Officer.
Is It Worth Investing in Wheels Up Experience Inc (NYSE: UP) Right Now?
Additionally, the 36-month beta value for UP is 2.24. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for UP is 345.56M and currently, short sellers hold a 3.30% ratio of that float. The average trading volume of UP on November 08, 2024 was 952.11K shares.
UP’s Market Performance
The stock of Wheels Up Experience Inc (UP) has seen a 0.00% decrease in the past week, with a -6.42% drop in the past month, and a 15.91% gain in the past quarter. The volatility ratio for the week is 8.97%, and the volatility levels for the past 30 days are at 7.07% for UP. The simple moving average for the past 20 days is -4.16% for UP’s stock, with a -19.04% simple moving average for the past 200 days.
Analysts’ Opinion of UP
Many brokerage firms have already submitted their reports for UP stocks, with Goldman repeating the rating for UP by listing it as a “Buy.” The predicted price for UP in the upcoming period, according to Goldman is $5 based on the research report published on June 15, 2022 of the previous year 2022.
Barrington Research gave a rating of “Mkt Perform” to UP, setting the target price at $16 in the report published on November 16th of the previous year.
UP Trading at -3.88% from the 50-Day Moving Average
After a stumble in the market that brought UP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -66.45% of loss for the given period.
Volatility was left at 7.07%, however, over the last 30 days, the volatility rate increased by 8.97%, as shares sank -0.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.68% upper at present.
During the last 5 trading sessions, UP remain unchanged, which changed the moving average for the period of 200-days by -40.00% in comparison to the 20-day moving average, which settled at $2.13. In addition, Wheels Up Experience Inc saw -40.52% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at UP starting from Heltebran Laura, who sale 28,413 shares at the price of $2.54 back on Mar 13 ’24. After this action, Heltebran Laura now owns 37,707 shares of Wheels Up Experience Inc, valued at $72,169 using the latest closing price.
Briffa Mark, the EVP, Charter & CEO Air Partner of Wheels Up Experience Inc, sale 5,589 shares at $2.52 during a trade that took place back on Mar 13 ’24, which means that Briffa Mark is holding 58,471 shares at $14,084 based on the most recent closing price.
Stock Fundamentals for UP
Current profitability levels for the company are sitting at:
- -0.31 for the present operating margin
- 0.0 for the gross margin
The net margin for Wheels Up Experience Inc stands at -0.4. The total capital return value is set at -1.68. Equity return is now at value -589.70, with -34.00 for asset returns.
Based on Wheels Up Experience Inc (UP), the company’s capital structure generated 0.99 points at debt to capital in total, while cash flow to debt ratio is standing at -0.42. The debt to equity ratio resting at 82.43. The interest coverage ratio of the stock is -891.76.
Currently, EBITDA for the company is -199.43 million with net debt to EBITDA at -0.65. When we switch over and look at the enterprise to sales, we see a ratio of 1.91. The receivables turnover for the company is 26.03for trailing twelve months and the total asset turnover is 0.8. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.32.
Conclusion
In conclusion, Wheels Up Experience Inc (UP) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
