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

Neptune Digital Assets Corp. (CVE:NDA)’s share price rose 29% on Friday . 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.

Wall Street Analysts Forecast Growth

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

Neptune Digital Assets Stock Up 29.0 %

The firm has a 50-day simple moving average of C$1.05 and a 200 day simple moving average of C$0.62. The stock has a market capitalization 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 current ratio of 70.04 and a quick ratio of 4.84.

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.