Neptune Digital Assets (CVE:NDA) Stock Price Up 17.8% - Time to Buy?

Neptune Digital Assets Corp. (CVE:NDA) saw a remarkable increase in its share price, rising by 17.8% on Friday. The stock reached a high of C$2.00 before closing slightly lower at C$1.99. A total of 1,526,675 shares were traded, marking a significant 60% rise compared to the average trading volume of 952,130 shares. The previous closing price was C$1.69.

Wall Street Analysts Forecast Growth

In addition to the stock price movement, HC Wainwright updated their price target for Neptune Digital Assets. They raised it from C$1.00 to C$2.00, maintaining a "buy" rating in a report issued on December 23rd.

Neptune Digital Assets Stock Performance

The company's stock demonstrates noteworthy metrics, with a 50-day moving average of C$1.05 and a 200-day moving average standing at C$0.62. Neptune boasts a debt-to-equity ratio of 1.96, a current ratio of 70.04, and a quick ratio of 4.84. Currently, the market capitalization of the company is C$262.14 million, and it has a negative price-to-earnings ratio of -8.67 along with a beta of 3.25.

Neptune Digital Assets Company Profile

Neptune Digital Assets Corp. is involved in building, owning, and operating digital currency infrastructure assets located in Canada. The company is active in staking and lending various digital currencies. Its operations also include Bitcoin mining, node operations, cryptocurrency staking, decentralized finance (DeFi) tokens, as well as investments in liquidity mining pools.

Should You Invest $1,000 in Neptune Digital Assets Right Now?

Before making an investment decision regarding Neptune Digital Assets, it might be wise to consider additional insights. MarketBeat tracks the most highly-rated research analysts and their recommendations. Currently, although Neptune Digital Assets holds a "Buy" rating among analysts, there are other stocks that are considered better buys. It is essential to conduct further research before proceeding with investments.

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