Neptune Digital Assets (CVE:NDA) Trading Up 29% – Here’s What Happened

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

Analysts Set New Price Targets

Separately, HC Wainwright upped 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 Price Performance

The stock’s 50 day moving average is C$1.07 and its two-hundred day moving average is C$0.64. 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 stock has a market capitalization of C$277.41 million, a PE 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.