Saturday, April 10, 2021

New Providence Acquisition Corp. [NPA] Is Currently -8.16 below its 200 Period Moving Avg: What Dose This Mean?

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New Providence Acquisition Corp. [NASDAQ: NPA] slipped around -1.03 points on Tuesday, while shares priced at $11.60 at the close of the session, down -8.16%. The company report on April 1, 2021 that New Providence Acquisition Corp. Stockholders Approve Business Combination with AST & Science.

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New Providence Acquisition Corp. (“New Providence”) (NASDAQ: NPA, NPAUU and NPAWW) announced that its stockholders approved all proposals related to the previously announced business combination (the “Business Combination”) with AST & Science, LLC at a special meeting of stockholders held. A Form 8-K disclosing the full voting results is expected to be filed with the Securities and Exchange Commission.

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The closing of the Business Combination is anticipated to occur on or about April 6, 2021. Following closing, the combined company will be known as AST SpaceMobile and its class A common stock and warrants will trade on Nasdaq under the ticker symbols “ASTS” and “ASTSW”, respectively.

New Providence Acquisition Corp. stock is now -14.58% down from its year-to-date (YTD) trading value. NPA Stock saw the intraday high of $12.19 and lowest of $11.53 per share. The company’s 52-week high price is 25.37, which means current price is +5.36% above from all time high which was touched on 02/10/21.

Compared to the average trading volume of 2.01M shares, NPA reached a trading volume of 1287225 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about New Providence Acquisition Corp. [NPA]?

The Average True Range (ATR) for New Providence Acquisition Corp. is set at 1.26 The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 0.00.

How has NPA stock performed recently?

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 -0.94. With this latest performance, NPA shares dropped by -10.01% in over the last four-week period, additionally plugging by 14.74% over the last 6 months – not to mention a rise of 15.54% 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 42.12, with the RSI for the last a single of trading hit 41.92, and the three-weeks RSI is set at 43.24 for New Providence Acquisition Corp. [NPA]. The present Moving Average for the last 50 days of trading for this stock 14.64, while it was recorded at 11.75 for the last single week of trading, and 11.66 for the last 200 days.

New Providence Acquisition Corp. [NPA]: Deeper insight into the fundamentals

Return on Total Capital for NPA is now -0.50, given the latest momentum, and Return on Invested Capital for the company is 0.09. Return on Equity for this stock inclined to 0.09, with Return on Assets sitting at 0.08.

Reflecting on the efficiency of the workforce at the company, New Providence Acquisition Corp. [NPA] managed to generate an average of $63,726 per employee.New Providence Acquisition Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Insider trade positions for New Providence Acquisition Corp. [NPA]

There are presently around $148 million, or 54.80% of NPA stock, in the hands of institutional investors. The top three institutional holders of NPA stocks are: UBS OCONNOR LLC with ownership of 2,277,000, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; MAGNETAR FINANCIAL LLC, holding 1,514,943 shares of the stock with an approximate value of $17.57 million in NPA stocks shares; and EJF CAPITAL LLC, currently with $14.78 million in NPA stock with ownership of nearly New of the company’s market capitalization.

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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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