NextTrip, Inc. (NASDAQ:NTRP) Short Interest Down 57.7% in May
by Renee Jackson · The Cerbat GemNextTrip, Inc. (NASDAQ:NTRP – Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 24,839 shares, a decline of 57.7% from the May 14th total of 58,671 shares. Approximately 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 currently 1.0 days.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Ascendiant Capital Markets upped their price objective on shares of NextTrip from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings downgraded shares of NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 4th. Finally, Zacks Research raised shares of NextTrip to a “hold” rating in a research note on Tuesday, March 17th. One investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.50.
View Our Latest Stock Report on NextTrip
NextTrip Trading Down 3.1%
NTRP stock traded down $0.07 during trading on Friday, reaching $2.16. 36,889 shares of the stock traded hands, compared to its average volume of 50,068. The business’s 50 day moving average price is $2.65 and its 200-day moving average price is $3.03. NextTrip has a 52-week low of $2.04 and a 52-week high of $5.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $31.30 million, a PE ratio of -1.16 and a beta of 1.03.
Insider Activity at NextTrip
In other NextTrip news, Director Andrew Jay Kaplan acquired 18,182 shares of the stock in a transaction dated 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 transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 44.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On NextTrip
An institutional investor recently bought a new position in NextTrip stock. Armistice Capital LLC purchased a new stake in shares of NextTrip, Inc. (NASDAQ:NTRP – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,000,000 shares of the company’s stock, valued at approximately $3,230,000. Armistice Capital LLC owned 7.32% of NextTrip at the end of the most recent quarter. 3.81% of the stock is owned by hedge funds and other institutional investors.
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.