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

NextTrip, Inc. (NASDAQ:NTRP) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 61,230 shares, a growth of 146.5% from the May 31st total of 24,839 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 69,798 shares, the short-interest ratio is currently 0.9 days.

Insiders Place Their Bets

In related news, Director David T. Jiang acquired 18,200 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $2.75 per share, for a total transaction of $50,050.00. Following the transaction, the director owned 1,582,157 shares of the company’s stock, valued at approximately $4,350,931.75. The trade was a 1.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Jay Kaplan acquired 18,182 shares of NextTrip stock in a transaction dated Friday, May 8th. The shares were bought at an average cost of $2.75 per share, with a total value of $50,000.50. Following the completion of the purchase, the director owned 51,582 shares in the company, valued at approximately $141,850.50. This represents a 54.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 44.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NextTrip

An institutional investor recently raised its stake in NextTrip stock. Geode Capital Management LLC boosted its holdings in shares of NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the 4th quarter, according to its most recent disclosure with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NTRP shares. Weiss Ratings lowered NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Ascendiant Capital Markets boosted their price objective on NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Zacks Research raised shares of NextTrip to a “hold” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NextTrip currently has a consensus rating of “Hold” and a consensus price target of $7.50.

NextTrip Trading Down 1.6%

NextTrip stock traded down $0.04 during midday trading on Wednesday, reaching $2.10. The stock had a trading volume of 13,644 shares, compared to its average volume of 67,854. NextTrip has a twelve month low of $1.80 and a twelve month high of $5.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $30.50 million, a price-to-earnings ratio of -1.13 and a beta of 1.03. The firm’s fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $2.88.

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.