Neptune Digital Assets (CVE:NDA) Trading Up 29% – Time to Buy?

Neptune Digital Assets Corp. (CVE:NDA)’s share price shot up 29% during trading on Saturday . The company traded as high as C$2.24 and last traded at C$2.18. 5,148,632 shares traded hands during mid-day trading, an increase of 329% from the average session volume of 1,200,339 shares. The stock had previously closed at C$1.69.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted their target price on shares of Neptune Digital Assets from C$1.00 to C$2.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd.

Neptune Digital Assets Price Performance

The firm has a 50 day moving average price of C$1.07 and a two-hundred day moving average price of C$0.64. The company has a market cap of C$277.41 million, a P/E ratio of -8.67 and a beta of 3.25. The company has a debt-to-equity ratio of 1.96, a quick ratio of 4.84 and a current ratio of 70.04.

About Neptune Digital Assets

Neptune Digital Assets Corp. builds, owns, and operates digital currency infrastructure assets in Canada. The company stakes and lends various digital currencies. It also engages in the Bitcoin mining, node operations, cryptocurrency staking, and decentralized finance (DeFi) tokens, as well as invests in liquidity mining pools.