Neptune Digital Assets (CVE:NDA) Trading 29% Higher – Time to Buy?

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

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised 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 report on Monday, December 23rd.

Neptune Digital Assets Price Performance

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 company 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 50 day moving average price of C$1.07 and a 200 day moving average price of C$0.63.

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.