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

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

Analysts Set New Price Targets

Separately, HC Wainwright boosted their price target 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 Price Performance

The business’s 50 day simple moving average is C$1.07 and its 200-day simple moving average is C$0.63. The stock has a market capitalization of C$277.41 million, a price-to-earnings 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.