Wheels Up Experience Inc. (NYSE: UP) stock fell -8.85% on Wednesday to $0.33 against a previous-day closing price of $0.36. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.01 million shares. During the session, the Airports & Air Services company that operates in wider Industrials sector, reached to the highest price of $0.3700 whereas the lowest price it dropped to was $0.3200. The 52-week range on UP shows that it touched its highest point at $2.88 and its lowest point at $0.25 during that stretch. It currently has a 1-year price target of $2.47.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of UP was up-trending over the past week, with a rise of 1.10%, but this was down by -27.83% over a month. Three-month performance dropped to -70.65% while six-month performance fell -75.43%. The stock lost -86.46% in the past year, while it has lost -67.80% so far this year. A look at the trailing 12-month EPS for UP yields -2.30 with Next year EPS estimates of -0.62. For the next quarter, that number is -0.29. This implies an EPS growth rate of -143.50% for this year and 35.40% for next year.
Float and Shares Shorts:
At present, 253.34 million UP shares are outstanding with a float of 221.76 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.17 million, which was 2.85% higher than short shares on Mar 30, 2023. In addition to Mr. Ravinder Singh Thakran as the firm’s Exec. Chairman, Mr. Todd Lamar Smith serves as its CFO & Interim CEO.
Through their ownership of 48.79% of UP’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 16.19% of UP, in contrast to 13.37% held by mutual funds. Shares owned by individuals account for 10.41%. As the largest shareholder in UP with 4.32% of the stake, BlackRock Fund Advisors holds 10,861,680 shares worth 10,861,680. A second-largest stockholder of UP, The Vanguard Group, Inc., holds 8,808,193 shares, controlling over 3.51% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in UP, holding 4,048,648 shares or 1.61% stake. With a 2.08% stake in UP, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,232,722 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.35% of UP stock, is the second-largest Mutual Fund holder. It holds 3,400,085 shares valued at 1.57 million. Vanguard Extended Market Index Fu holds 1.01% of the stake in UP, owning 2,537,876 shares worth 1.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, UP reported revenue of $425.51M and operating income of -$94.79M. The EBITDA in the recently reported quarter was -$79.10M and diluted EPS was -$0.38.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for UP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With UP analysts setting a high price target of $3.20 and a low target of $1.50, the average target price over the next 12 months is $2.47. Based on these targets, UP could surge 869.7% to reach the target high and rise by 354.55% to reach the target low. Reaching the average price target will result in a growth of 648.48% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded UP stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 693,982 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 5,498,864 while 3,557,629 shares were sold.