Neptune Digital Assets (CVE:NDA) Stock Price Up 28.1% – Here’s Why

Shares of Neptune Digital Assets Corp. (CVE:NDA) rose 28.1% on Wednesday . The stock traded as high as C$2.79 and last traded at C$2.78. Approximately 3,322,909 shares were traded during mid-day trading, an increase of 136% from the average daily volume of 1,409,131 shares. The stock had previously closed at C$2.17.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price target on 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 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’s fifty day moving average price is C$1.12 and its 200 day moving average price is C$0.66. The firm has a market cap of C$353.76 million, a P/E 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.