NextTrip, Inc. (NASDAQ:NTRP) Shares Shorted: Short Interest Up 84.9% in September

NextTrip, Inc. (NASDAQ:NTRP) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 118,173 shares, an increase of 84.9% from the August 31st total of 63,900 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 54,922 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In related news, Director Andrew Kaplan bought 52,910 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were purchased at an average cost of $1.89 per share, for a total transaction of $99,999.90. Following the completion of the purchase, the director directly owned 104,492 shares in the company, valued at $197,489.88. The trade was a 102.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 40.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on NTRP shares. Ascendiant Capital Markets lifted their price target on shares of NextTrip from $7.50 to $7.75 and gave the stock a “buy” rating in a report on Monday, September 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of NextTrip in a research report on Tuesday, September 1st. 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 stock. According to data from MarketBeat.com, NextTrip currently has a consensus rating of “Hold” and an average price target of $7.75.

NextTrip Stock Performance

Shares of NTRP stock traded up $0.09 during trading on Wednesday, reaching $1.89. 54,460 shares of the company’s stock traded hands, compared to its average volume of 106,670. The firm’s 50-day moving average is $1.59 and its 200 day moving average is $2.16. The company has a market capitalization of $28.51 million, a P/E ratio of -1.34 and a beta of 1.03. NextTrip has a 1 year low of $0.90 and a 1 year high of $5.20. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.02.

NextTrip (NASDAQ:NTRP) last issued its earnings results on Wednesday, July 15th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). NextTrip had a negative net margin of 289.92% and a negative return on equity of 246.48%. Equities research analysts expect that NextTrip will post -0.98 EPS for the current year.

About NextTrip

NextTrip, Inc (NASDAQ:NTRP) is a travel technology and online travel company that provides booking services for leisure and business travelers. Through its digital platform, the company offers access to accommodations, air travel, vacation packages, cruises, car rentals and other travel-related products and services.

NextTrip also develops business-to-business travel solutions designed to help travel agencies, corporate partners and other organizations market and sell travel products. Its technology and booking capabilities are intended to support direct-to-consumer transactions as well as partner and private-label distribution channels.

The company serves customers seeking travel within the United States and to international destinations through its online offerings.