NextTrip, Inc. (NASDAQ:NTRP) Shares Shorted: Short Interest Up 92.9% in September

NextTrip, Inc. (NASDAQ:NTRP) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 227,943 shares, an increase of 92.9% from the September 15th total of 118,173 shares. Based on an average daily trading volume, of 99,845 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.5% of the company’s stock are sold short.

Insiders Place Their Bets

In other NextTrip news, Director Andrew Kaplan bought 52,910 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The shares were purchased at an average cost of $1.89 per share, for a total transaction of $99,999.90. Following the purchase, the director directly owned 104,492 shares in the company, valued at $197,489.88. This represents a 102.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 40.00% of the stock is currently owned by company insiders.

NextTrip Stock Performance

NASDAQ:NTRP traded down $0.12 during trading hours on Wednesday, hitting $1.71. 56,562 shares of the company were exchanged, compared to its average volume of 106,384. The stock has a market capitalization of $25.80 million, a price-to-earnings ratio of -1.21 and a beta of 0.97. NextTrip has a 52-week low of $0.90 and a 52-week high of $5.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50 day moving average price is $1.63 and its 200-day moving average price is $2.11.

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

Wall Street Analyst Weigh In

NTRP has been the subject of a number of research analyst reports. Ascendiant Capital Markets increased their price target on NextTrip from $7.50 to $7.75 and gave the company a “buy” rating in a research note on Monday, September 14th. Weiss Ratings restated a “sell (e+)” rating on shares of NextTrip in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, NextTrip has an average rating of “Hold” and an average target price of $7.75.

About NextTrip

NextTrip, Inc is a travel technology company that provides online booking services for leisure and business travelers. Through its digital platform, the company helps customers search for and reserve accommodations, flights, rental cars, vacation packages and other travel-related services.

In addition to individual travel bookings, NextTrip offers services for group travel, meetings and events. Its business model combines direct-to-consumer offerings with relationships involving travel suppliers and distribution partners, allowing customers to organize multiple components of a trip through a single platform.

NextTrip primarily serves travelers in the United States through its online channels and the NextTrip brand.