NextTrip, Inc. (NASDAQ:NTRP) Sees Large Growth in Short Interest

NextTrip, Inc. (NASDAQ:NTRP) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 89,067 shares, an increase of 150.0% from the July 30th total of 35,633 shares. Based on an average trading volume of 52,347 shares, the short-interest ratio is currently 1.7 days. Currently, 1.1% of the company’s shares are sold short.

NextTrip Trading Up 0.4%

NTRP opened at $1.38 on Friday. The company has a fifty day moving average price of $1.76 and a two-hundred day moving average price of $2.38. NextTrip has a 1-year low of $0.90 and a 1-year high of $5.20. The company has a market cap of $20.74 million, a P/E ratio of -0.98 and a beta of 1.05. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.02.

NextTrip (NASDAQ:NTRP) last released its quarterly earnings data on Wednesday, July 15th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). NextTrip had a negative net margin of 289.92% and a negative return on equity of 246.48%. Analysts predict that NextTrip will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Ascendiant Capital Markets raised their target price on NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings lowered NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NextTrip has an average rating of “Hold” and an average target price of $7.50.

Insider Activity

In other NextTrip news, Director David T. Jiang acquired 18,200 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $2.75 per share, with a total value of $50,050.00. Following the purchase, the director directly owned 1,582,157 shares of the company’s stock, valued at $4,350,931.75. This trade represents a 1.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 44.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NextTrip

A hedge fund recently bought a new position in NextTrip stock. Armistice Capital LLC bought a new position in shares of NextTrip, Inc. (NASDAQ:NTRP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Armistice Capital LLC owned 7.32% of NextTrip as of its most recent SEC filing. 3.81% of the stock is owned by institutional investors.

NextTrip Company Profile

NextTrip, Inc, through its subsidiaries, engages in the provision of travel technology solutions in the United States. The company offers NXT2.0, a booking engine technology platform, which provides travel distributors access to an inventory. It is also involved in the provision of online leisure travel agency services for booking hotels, flights, and curated vacations. The company was formerly known as Sigma Additive Solutions, Inc and changed its name to NextTrip, Inc in March 2024. NextTrip, Inc is based in Sunrise, Florida.