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

Shares of Neptune Digital Assets Corp. (CVE:NDA) rose 29% during mid-day trading on Saturday . 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.

Analysts Set New Price Targets

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

Neptune Digital Assets Stock Up 29.0 %

The company has a market capitalization of C$277.41 million, a P/E ratio of -8.67 and a beta of 3.25. The stock has a 50 day moving average price of C$1.07 and a 200 day moving average price of C$0.63. 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.