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

Shares of Neptune Digital Assets Corp. (CVE:NDA) were up 29% during mid-day trading on Friday . The company traded as high as C$2.24 and last traded at C$2.18. Approximately 5,148,632 shares changed hands 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.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased 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 research note on Monday, December 23rd.

Neptune Digital Assets Price Performance

The business has a 50-day moving average of C$1.07 and a two-hundred day moving average of C$0.63. The company has a current ratio of 70.04, a quick ratio of 4.84 and a debt-to-equity ratio of 1.96. 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.