Neptune Digital Assets (CVE:NDA) Trading 29% Higher – Should You Buy?

Neptune Digital Assets Corp. (CVE:NDA) shot up 29% during mid-day trading on Friday . The company traded as high as C$2.24 and last traded at C$2.18. 5,148,632 shares traded hands during trading, an increase of 329% from the average session volume of 1,200,339 shares. The stock had previously closed at C$1.69.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lifted their price objective on shares of Neptune Digital Assets from C$1.00 to C$2.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd.

Neptune Digital Assets Trading Up 29.0 %

The company has a quick ratio of 4.84, a current ratio of 70.04 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of C$1.07 and a 200 day moving average of C$0.63. The firm has a market cap of C$277.41 million, a PE ratio of -8.67 and a beta of 3.25.

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.