NextTrip, Inc. (NASDAQ:NTRP) Short Interest Down 57.7% in May

NextTrip, Inc. (NASDAQ:NTRP) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 24,839 shares, a drop of 57.7% from the May 14th total of 58,671 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 25,340 shares, the short-interest ratio is presently 1.0 days.

Insider Buying and Selling at NextTrip

In other news, Director Andrew Jay Kaplan acquired 18,182 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $50,000.50. Following the completion of the transaction, the director directly owned 51,582 shares in the company, valued at approximately $141,850.50. This trade represents a 54.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 44.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NextTrip stock. Armistice Capital LLC purchased a new position in NextTrip, Inc. (NASDAQ:NTRP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Armistice Capital LLC owned approximately 7.32% of NextTrip at the end of the most recent quarter. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Wall Street Analyst Weigh In

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

NextTrip Trading Down 0.4%

NTRP opened at $2.23 on Friday. The firm has a market cap of $32.31 million, a P/E ratio of -1.19 and a beta of 1.03. NextTrip has a 12 month low of $2.04 and a 12 month high of $5.20. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $2.67 and a 200 day moving average of $3.04.

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.