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

NextTrip, Inc. (NASDAQ:NTRP) was the target 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. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily volume of 99,845 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

In related news, Director Andrew Kaplan bought 52,910 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were purchased at an average price of $1.89 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the director directly owned 104,492 shares of the company’s stock, valued at approximately $197,489.88. This represents a 102.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 40.00% of the stock is owned by corporate insiders.

NextTrip Trading Down 2.3%

Shares of NextTrip stock traded down $0.04 on Thursday, hitting $1.67. The stock had a trading volume of 57,681 shares, compared to its average volume of 106,138. The stock has a 50 day moving average of $1.63 and a 200 day moving average of $2.11. The firm has a market capitalization of $25.20 million, a P/E ratio of -1.18 and a beta of 0.97. NextTrip has a twelve month low of $0.90 and a twelve month high of $5.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.61 and a current ratio of 0.61.

NextTrip (NASDAQ:NTRP) last posted its earnings results on Thursday, October 15th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). NextTrip had a negative return on equity of 246.48% and a negative net margin of 289.92%. Sell-side analysts expect that NextTrip will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTRP shares. Ascendiant Capital Markets raised their price objective on NextTrip from $7.50 to $7.75 and gave the company a “buy” rating in a report on Monday, September 14th. Weiss Ratings restated a “sell (e+)” rating on shares of NextTrip in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.75.

NextTrip Company Profile

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.