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

Neptune Digital Assets Corp. (CVE:NDA) shares were up 29% on Saturday . The company traded as high as C$2.24 and last traded at C$2.18. Approximately 5,148,632 shares were traded 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.

Analysts Set New Price Targets

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

Neptune Digital Assets Price 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 debt-to-equity ratio of 1.96, a current ratio of 70.04 and a quick ratio of 4.84. The firm has a market cap of C$277.41 million, a P/E ratio of -8.67 and a beta of 3.25.

Neptune Digital Assets Company Profile

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.