Neptune Digital Assets (CVE:NDA) Trading 29% Higher – Here’s Why

Neptune Digital Assets Corp. (CVE:NDA)’s stock price was up 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 changed hands during mid-day trading, an increase of 329% from the average daily 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 company a “buy” rating in a research report on Monday, December 23rd.

Neptune Digital Assets Stock Performance

The firm has a market cap of C$277.41 million, a PE ratio of -8.67 and a beta of 3.25. The business has a 50-day simple moving average of C$1.07 and a 200 day simple moving average of C$0.64. The company has a debt-to-equity ratio of 1.96, a current ratio of 70.04 and a quick ratio of 4.84.

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.