Short Interest in NextTrip, Inc. (NASDAQ:NTRP) Increases By 146.5%

NextTrip, Inc. (NASDAQ:NTRP) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 61,230 shares, an increase of 146.5% from the May 31st total of 24,839 shares. Based on an average trading volume of 69,798 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.8% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of NextTrip to a “hold” rating in a research note on Tuesday, March 17th. Finally, Ascendiant Capital Markets boosted their target price on shares of NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NextTrip has an average rating of “Hold” and a consensus price target of $7.50.

NextTrip Stock Down 5.9%

NextTrip stock traded down $0.12 during mid-day trading on Monday, hitting $1.99. 114,853 shares of the company’s stock were exchanged, compared to its average volume of 68,435. NextTrip has a 1-year low of $1.80 and a 1-year high of $5.20. The stock has a 50 day moving average of $2.40 and a two-hundred day moving average of $2.91. 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 market cap of $28.78 million, a P/E ratio of -1.06 and a beta of 1.03.

Insider Activity

In related news, Director David T. Jiang purchased 18,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $50,050.00. Following the completion of the acquisition, the director owned 1,582,157 shares in the company, valued at $4,350,931.75. This trade represents a 1.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Jay Kaplan bought 18,182 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $2.75 per share, with a total value of $50,000.50. Following 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 disclosure for this purchase is available in the SEC filing. Insiders own 44.50% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in NextTrip stock. Armistice Capital LLC bought a new position in NextTrip, Inc. (NASDAQ:NTRP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Armistice Capital LLC owned about 7.32% of NextTrip as of its most recent filing with the Securities and Exchange Commission. 3.81% of the stock is currently owned by institutional investors and hedge funds.

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.