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

Neptune Digital Assets Corp. (CVE:NDA)’s share price rose 29% during trading on Friday . The company traded as high as C$2.24 and last traded at C$2.18. Approximately 5,148,632 shares were traded 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.

Wall Street Analyst Weigh In

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

Neptune Digital Assets Price Performance

The company has a market capitalization of C$277.41 million, a price-to-earnings ratio of -8.67 and a beta of 3.25. The stock has a fifty day simple moving average of C$1.05 and a 200-day simple moving average of C$0.62. The company has a debt-to-equity ratio of 1.96, a current ratio of 70.04 and a quick ratio of 4.84.

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.