Neptune Digital Assets (CVE:NDA) Stock Price Up 29% – Here’s Why

Neptune Digital Assets Corp. (CVE:NDA)’s share price was up 29% during 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 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 lifted 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 report on Monday, December 23rd.

Neptune Digital Assets Stock Up 29.0 %

The company has a debt-to-equity ratio of 1.96, a quick ratio of 4.84 and a current ratio of 70.04. 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 business’s fifty day moving average is C$1.07 and its two-hundred day moving average is C$0.63.

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.