Neptune Digital Assets (CVE:NDA) Trading 22.4% Higher – Here’s What Happened

Neptune Digital Assets Corp. (CVE:NDA) was up 22.4% during mid-day trading on Tuesday . The company traded as high as C$1.69 and last traded at C$1.64. Approximately 2,690,479 shares changed hands during mid-day trading, an increase of 328% from the average daily volume of 629,041 shares. The stock had previously closed at C$1.34.

Wall Street Analyst Weigh In

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

Neptune Digital Assets Price Performance

The stock has a market capitalization of C$215.05 million, a price-to-earnings 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. The company has a 50-day simple moving average of C$1.00 and a two-hundred day simple moving average of C$0.59.

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.