Market cap of New Providence Acquisition Corp. [NPA] reaches 385.97M – now what?

New Providence Acquisition Corp. [NASDAQ: NPA] price plunged by -12.61 percent to reach at -$1.92. The company report on March 2, 2021 that AST SpaceMobile Announces an Expanded Board of Directors to Join at The Closing of the Business Combination with New Providence Acquisition Corp.

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– Board will include senior representatives from leading global wireless infrastructure companies, including Rakuten, Vodafone and American Tower, as well as directors from major financial and investment firms.

– Creates a well-rounded, knowledgeable leadership team supporting AST’s initiative to provide connectivity from space to every mobile phone around the world.

A sum of 3485357 shares traded at recent session while its average daily volume was at 2.14M shares. New Providence Acquisition Corp. shares reached a high of $15.70 and dropped to a low of $13.18 until finishing in the latest session at $13.30.

Guru’s Opinion on New Providence Acquisition Corp. [NPA]:

The Average True Range (ATR) for New Providence Acquisition Corp. is set at 2.21 The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 0.01.

NPA Stock Performance Analysis:

New Providence Acquisition Corp. [NPA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.90. With this latest performance, NPA shares dropped by -1.48% in over the last four-week period, additionally plugging by 32.47% over the last 6 months – not to mention a rise of 35.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NPA stock in for the last two-week period is set at 39.11, with the RSI for the last a single of trading hit 33.15, and the three-weeks RSI is set at 43.08 for New Providence Acquisition Corp. [NPA]. The present Moving Average for the last 50 days of trading for this stock 15.13, while it was recorded at 14.36 for the last single week of trading, and 11.35 for the last 200 days.

Insight into New Providence Acquisition Corp. Fundamentals:

Reflecting on the efficiency of the workforce at the company, New Providence Acquisition Corp. [NPA] managed to generate an average of $218,560 per employee.New Providence Acquisition Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

New Providence Acquisition Corp. [NPA] Insider Position Details

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34 institutional holders increased their position in New Providence Acquisition Corp. [NASDAQ:NPA] by around 6,821,298 shares. Additionally, 48 investors decreased positions by around 12,415,716 shares, while 2 investors held positions by with 6,466,966 shares. The mentioned changes placed institutional holdings at 12,770,048 shares, according to the latest SEC report filing. NPA stock had 31 new institutional investments in for a total of 5,479,051 shares, while 25 institutional investors sold positions of 8,320,599 shares during the same period.

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