The trading price of New Providence Acquisition Corp. (NASDAQ:NPA) closed lower on Monday, Feb 22, closing at $19.35, -9.46% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $17.15 and $19.00. The company’s P/E ratio in the trailing 12-month period was 438, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $25.37 and a 52-week low of $9.5. Over the past month, the stock has gained 8.15% in value.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of New Providence Acquisition Corp. no upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NPA has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
An evaluation of the daily trading volume of New Providence Acquisition Corp. (NASDAQ:NPA) indicates that the 3-month average is 1.87 Million. However, this figure has declined over the past 10 days to an average of 1.47 Million.
Currently, records show that 23Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 0% of outstanding shares, whereas institutions hold 85.87%. The stats also highlight that short interest as of January 28, 2021, stood at 384.65 Million shares, resulting in a short ratio of 0.2 at that time. From this, we can conclude that short interest is 1.34% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 944.55 Million. However, since the stock’s price has seen +29.01% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.