Neptune Digital Assets (CVE:NDA) Trading Down 5.4% – Here’s Why

Neptune Digital Assets Corp. (CVE:NDA)’s stock price dropped 5.4% during trading on Thursday . The stock traded as low as C$2.54 and last traded at C$2.63. Approximately 572,297 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,358,915 shares. The stock had previously closed at C$2.78.

Analyst Upgrades and Downgrades

Separately, HC Wainwright lifted their price target on shares of Neptune Digital Assets from C$2.00 to C$3.00 in a research report on Thursday.

Neptune Digital Assets Stock Performance

The firm has a market capitalization of C$320.67 million, a P/E ratio of -8.67 and a beta of 3.25. 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 business’s 50 day simple moving average is C$1.16 and its two-hundred day simple moving average is C$0.68.

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.