Neptune Digital Assets (CVE:NDA) Trading 29% Higher – Should You Buy?

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 were traded 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 raised their target price on Neptune Digital Assets from C$1.00 to C$2.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd.

Neptune Digital Assets Stock Performance

The company’s 50-day moving average is C$1.07 and its two-hundred day moving average is C$0.63. The company has a market capitalization of C$277.41 million, a P/E ratio of -8.67 and a beta of 3.25. The company has a quick ratio of 4.84, a current ratio of 70.04 and a debt-to-equity ratio of 1.96.

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.