H.C. Wainwright & Co Analyst Coverage Reiterating Buy Rating

H.C. Wainwright & Co. (HCW), on August 3rd 2021, released a new report on Neptune Digital Assets reiterating a Buy rating.

Grabbing the bull by the horns. Neptune Digital announced 3Q21 (May) financial results late last week, losing C$0.07 per share, down from a C$0.03 gain in the previous quarter (Feb.). The main driver for the quarterly loss was a sharp decline in the broad cryptocurrency market, in part on account of the Chinese government’s crackdown on crypto mining and concerns over the amount of energy crypto mining uses, for example: (1) bitcoin, which accounts for 16.8% of Neptune’s crypto portfolio at May quarter’s end, reached C$79,437 on April 15, before tumbling to C$45,027 on May 31; (2) Cosmos, at 33.8% of the portfolio, hit an all-time high of C$35.97 on May 7, before closing out the month at C$16.66; and (3) Ethereum, at 12.3% of the portfolio, hit C$5,044.53 on May 10 before ending the month at C$3,183.95….

HCW coverage on Neptune Digital Assets

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