Neptune Digital Assets (CVE:NDA) Trading 29% Higher – Still a Buy?

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

Analysts Set New Price Targets

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

Neptune Digital Assets Stock Performance

The company 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 quick ratio of 4.84, a current ratio of 70.04 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of C$277.41 million, a P/E ratio of -8.67 and a beta of 3.25.

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.