NextTrip, Inc. (NASDAQ:NTRP) Short Interest Down 65.9% in July

NextTrip, Inc. (NASDAQ:NTRP) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 35,633 shares, a decline of 65.9% from the July 15th total of 104,444 shares. Based on an average daily trading volume, of 125,008 shares, the short-interest ratio is currently 0.3 days. Currently, 0.4% of the shares of the company are sold short.

Insider Buying and Selling at NextTrip

In other NextTrip news, Director David T. Jiang acquired 18,200 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $2.75 per share, with a total value 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 44.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its position in NextTrip stock. Geode Capital Management LLC raised its position in 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 purchasing an additional 7,086 shares during the quarter. Geode Capital Management LLC owned about 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.

NextTrip Stock Performance

NTRP stock traded down $0.08 during mid-day trading on Friday, reaching $1.46. The company had a trading volume of 50,142 shares, compared to its average volume of 74,687. NextTrip has a one year low of $1.46 and a one year high of $5.20. The stock has a market capitalization of $22.03 million, a P/E ratio of -1.04 and a beta of 1.05. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $1.91 and its two-hundred day simple moving average is $2.50.

NextTrip (NASDAQ:NTRP) last released its quarterly earnings results on Wednesday, July 15th. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22). NextTrip had a negative net margin of 289.92% and a negative return on equity of 246.48%. Research analysts anticipate that NextTrip will post -0.98 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on NTRP shares. Weiss Ratings downgraded NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Ascendiant Capital Markets increased their price target on NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.