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

Neptune Digital Assets Corp. (CVE:NDA)’s stock price was up 29% during mid-day trading on Saturday . The stock 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.

Analyst Upgrades and Downgrades

Separately, HC Wainwright raised their price target 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 Price Performance

The stock’s 50 day simple moving average is C$1.07 and its 200-day simple moving average is C$0.63. 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 firm has a market cap of C$277.41 million, a price-to-earnings ratio of -8.67 and a beta of 3.25.

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.