Short Interest in NextTrip, Inc. (NASDAQ:NTRP) Increases By 150.0%

NextTrip, Inc. (NASDAQ:NTRP) saw a significant 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 daily trading volume, of 52,347 shares, the short-interest ratio is currently 1.7 days. Approximately 1.1% of the company’s shares are sold short.

Insider Buying and Selling

In related news, Director David T. Jiang acquired 18,200 shares of the stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $50,050.00. Following the completion of the acquisition, the director directly owned 1,582,157 shares of the company’s stock, valued at approximately $4,350,931.75. This represents a 1.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextTrip

An institutional investor recently raised its stake in NextTrip stock. Geode Capital Management LLC increased its stake in NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,852 shares of the company’s stock after purchasing an additional 7,086 shares during the quarter. Geode Capital Management LLC owned 0.29% of NextTrip worth $129,000 at the end of the most recent quarter. 3.81% of the stock is currently owned by institutional investors and hedge funds.

NextTrip Stock Up 14.6%

Shares of NASDAQ:NTRP opened at $1.57 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $2.38. NextTrip has a 12-month low of $0.90 and a 12-month high of $5.20. The stock has a market capitalization of $23.69 million, a price-to-earnings ratio of -1.11 and a beta of 1.05.

NextTrip (NASDAQ:NTRP) last issued its quarterly earnings results on Wednesday, July 15th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). NextTrip had a negative return on equity of 246.48% and a negative net margin of 289.92%. On average, research analysts anticipate that NextTrip will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

NTRP has been the subject of a number of research analyst reports. Ascendiant Capital Markets raised their target price on NextTrip from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings downgraded NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.