Ascendiant Capital Markets Issues Positive Forecast for NextTrip (NASDAQ:NTRP) Stock Price

NextTrip (NASDAQ:NTRP) had its price target raised by analysts at Ascendiant Capital Markets from $7.00 to $7.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target points to a potential upside of 228.95% from the stock’s previous close.

A number of other analysts have also issued reports on NTRP. Zacks Research upgraded shares of NextTrip to a “hold” rating in a research note on Tuesday, March 17th. Weiss Ratings lowered NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NextTrip presently has a consensus rating of “Hold” and an average price target of $7.50.

NextTrip Stock Down 2.6%

Shares of NASDAQ:NTRP opened at $2.28 on Wednesday. NextTrip has a 1 year low of $2.04 and a 1 year high of $5.20. The stock has a 50-day simple moving average of $2.71 and a 200-day simple moving average of $3.06. The stock has a market capitalization of $33.04 million, a P/E ratio of -1.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Buying and Selling

In other news, Director Andrew Jay Kaplan bought 18,182 shares of NextTrip stock in a transaction on Friday, May 8th. The shares were bought at an average price of $2.75 per share, with a total value of $50,000.50. Following the acquisition, the director directly owned 51,582 shares in the company, valued at approximately $141,850.50. This represents a 54.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 44.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NextTrip

A hedge fund recently raised its stake in NextTrip stock. Geode Capital Management LLC boosted its holdings in NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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. 3.81% of the stock is currently owned by institutional investors and hedge funds.

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.