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

NextTrip, Inc. (NASDAQ:NTRP) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 35,633 shares, a decrease of 65.9% from the July 15th total of 104,444 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 125,008 shares, the short-interest ratio is presently 0.3 days.

Insiders Place Their Bets

In other news, Director David T. Jiang purchased 18,200 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was purchased at an average cost of $2.75 per share, with a total value of $50,050.00. Following the purchase, the director owned 1,582,157 shares in the company, valued at $4,350,931.75. This trade represents a 1.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 44.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextTrip

An institutional investor recently bought a new stake in NextTrip stock. Armistice Capital LLC bought a new position in NextTrip, Inc. (NASDAQ:NTRP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Armistice Capital LLC owned about 7.32% of NextTrip as of its most recent SEC filing. Institutional investors own 3.81% of the company’s stock.

NextTrip Price Performance

NTRP stock traded down $0.08 on Friday, hitting $1.46. 50,138 shares of the company’s stock traded hands, compared to its average volume of 108,042. NextTrip has a 1-year low of $1.46 and a 1-year high of $5.20. The stock has a market cap of $22.03 million, a price-to-earnings ratio of -1.04 and a beta of 1.05. The stock has a fifty day moving average of $1.93 and a 200-day moving average of $2.51. 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 posted its quarterly earnings results on Wednesday, July 15th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). NextTrip had a negative net margin of 289.92% and a negative return on equity of 246.48%. On average, analysts forecast that NextTrip will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.