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

NextTrip, Inc. (NASDAQ:NTRP) was the target of a large increase in short interest during the month of 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. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 52,347 shares, the days-to-cover ratio is currently 1.7 days.

Insider Buying and Selling

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

Institutional Investors Weigh In On NextTrip

An institutional investor recently raised its position in NextTrip stock. Geode Capital Management LLC boosted its position in NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,852 shares of the company’s stock after buying an additional 7,086 shares during the period. Geode Capital Management LLC owned approximately 0.29% of NextTrip worth $129,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.

NextTrip Price Performance

Shares of NTRP opened at $1.38 on Friday. NextTrip has a 1 year low of $0.90 and a 1 year 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 has a market capitalization of $20.74 million, a price-to-earnings ratio of -0.98 and a beta of 1.05. The business has a 50-day moving average of $1.76 and a 200-day moving average of $2.38.

NextTrip (NASDAQ:NTRP) last announced its earnings results on Wednesday, July 15th. The company reported ($0.22) EPS 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%. As a group, equities research analysts anticipate that NextTrip will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NTRP has been the subject of several recent research reports. Weiss Ratings cut shares of NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Ascendiant Capital Markets lifted their price target on shares of 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.50.

About NextTrip

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.