Neptune Digital Assets, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Kevin Dede from H.C. Wainwright reiterated a Buy rating on the stock and has a C$3.00 price target.
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Kevin Dede has given his Buy rating due to a combination of factors tied to Neptune Digital Assets’ evolving business mix and asset growth. He highlights that the company more than doubled its digital currency holdings over the past fiscal year, while shifting deliberately away from low-margin bitcoin mining toward higher-margin staking, which now generates nearly all of its gross profit. He also notes that comprehensive income was strongly supported by favorable revaluations in the crypto portfolio, underscoring the leverage Neptune has to rising digital asset prices. Moreover, Neptune continues to accumulate bitcoin, adding to its coin balance and increasing its direct exposure to what Dede views as a core store-of-value asset.
Dede further emphasizes the strategic expansion into private investments aligned with Elon Musk’s ventures, particularly SpaceX and xAI, as a key driver of his positive view. Neptune’s stake in SpaceX has appreciated significantly, and Dede believes the company could benefit from a potential SpaceX IPO at a very high valuation. The initial investment in xAI adds an additional call option on the emerging AI infrastructure theme, complementing Neptune’s crypto holdings with high-growth technology exposure. Taken together—growing digital asset balances, improving yield generation from staking, and concentrated positions in marquee technology names—Dede concludes that Neptune offers an attractive, diversified way to gain leverage to both crypto and frontier tech, supporting his Buy rating and C$3.00 price target.