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

Neptune Digital Assets Corp. (CVE:NDA) shares 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.

Analysts Set New Price Targets

Separately, HC Wainwright increased 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 Up 29.0 %

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 company has a debt-to-equity ratio of 1.96, a quick ratio of 4.84 and a current ratio of 70.04. 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.