Neptune Digital Assets (CVE:NDA) Shares Up 11.2% – Time to Buy?

Neptune Digital Assets Corp. (CVE:NDA) shares shot up 11.2% during mid-day trading on Tuesday . The stock traded as high as C$1.52 and last traded at C$1.49. 1,557,027 shares traded hands during mid-day trading, an increase of 185% from the average session volume of 547,010 shares. The stock had previously closed at C$1.34.

Analyst Upgrades and Downgrades

Separately, HC Wainwright increased 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 note on Monday, December 23rd.

Neptune Digital Assets Stock Performance

The stock’s 50 day moving average price is C$1.05 and its 200 day moving average price is C$0.62. The company has a market capitalization of C$215.05 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 quick ratio of 4.84 and a current ratio of 70.04.

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.