NextTrip (NASDAQ:NTRP) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

NextTrip, Inc. (NASDAQ:NTRP) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.95 and traded as high as $3.97. NextTrip shares last traded at $3.57, with a volume of 264,911 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NTRP. Ascendiant Capital Markets initiated coverage on NextTrip in a research note on Monday, March 2nd. They issued a “buy” rating and a $7.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NextTrip in a research report on Friday, March 27th. Finally, Zacks Research raised NextTrip to a “hold” rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NextTrip presently has an average rating of “Hold” and a consensus price target of $7.00.

NextTrip Trading Up 7.5%

The company has a market cap of $48.80 million, a P/E ratio of -2.50 and a beta of 1.32. The firm’s 50 day moving average is $2.95 and its two-hundred day moving average is $3.44. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.02.

NextTrip (NASDAQ:NTRP) last announced its earnings results on Wednesday, January 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.21). NextTrip had a negative return on equity of 230.71% and a negative net margin of 698.51%. As a group, equities research analysts anticipate that NextTrip, Inc. will post -0.78 EPS for the current year.

Hedge Funds Weigh In On NextTrip

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in NextTrip by 21.6% in the fourth quarter. Geode Capital Management LLC now owns 39,852 shares of the company’s stock valued at $129,000 after acquiring an additional 7,086 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in NextTrip during the 3rd quarter valued at approximately $33,000. Finally, Armistice Capital LLC bought a new position in NextTrip during the 4th quarter worth approximately $3,230,000. 3.81% of the stock is 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.