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

NextTrip, Inc. (NASDAQ:NTRP) was the target of a significant drop in short interest during the month of 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. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 25,340 shares, the short-interest ratio is presently 1.0 days.

NextTrip Stock Performance

NextTrip stock opened at $2.23 on Friday. The company has a 50 day moving average price of $2.67 and a 200-day moving average price of $3.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.81 and a current ratio of 0.81. NextTrip has a fifty-two week low of $2.04 and a fifty-two week high of $5.20. The company has a market capitalization of $32.31 million, a PE ratio of -1.19 and a beta of 1.03.

Wall Street Analyst Weigh In

Several analysts have issued reports on NTRP shares. Weiss Ratings downgraded shares of NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Ascendiant Capital Markets raised their price objective on shares of NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Research raised shares of NextTrip to a “hold” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NextTrip presently has a consensus rating of “Hold” and an average target price of $7.50.

Insider Transactions at NextTrip

In other news, Director Andrew Jay Kaplan acquired 18,182 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $2.75 per share, with a total value of $50,000.50. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 44.50% of the stock is currently owned by insiders.

Institutional Trading of NextTrip

An institutional investor recently raised its position in NextTrip stock. Geode Capital Management LLC grew its stake in shares of NextTrip, Inc. (NASDAQ:NTRP) by 21.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,852 shares of the company’s stock after acquiring an additional 7,086 shares during the period. Geode Capital Management LLC owned about 0.29% of NextTrip worth $129,000 at the end of the most recent quarter. Institutional investors own 3.81% of the company’s stock.

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.