DeFi Technologies Inc. (NASDAQ:DEFT) Sees Large Decline in Short Interest

DeFi Technologies Inc. (NASDAQ:DEFT) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 20,859,504 shares, a decline of 18.4% from the January 29th total of 25,573,170 shares. Based on an average daily volume of 3,322,952 shares, the days-to-cover ratio is currently 6.3 days. Approximately 5.4% of the company’s shares are short sold. Approximately 5.4% of the company’s shares are short sold. Based on an average daily volume of 3,322,952 shares, the days-to-cover ratio is currently 6.3 days.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Northland Securities set a $2.50 price target on DeFi Technologies in a research report on Monday, November 17th. Wall Street Zen cut DeFi Technologies from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Benchmark decreased their target price on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DeFi Technologies in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Up 3.9%

Shares of DeFi Technologies stock opened at $0.72 on Thursday. The stock’s 50-day moving average is $0.83 and its 200 day moving average is $1.47. DeFi Technologies has a one year low of $0.60 and a one year high of $4.95. The firm has a market cap of $276.75 million, a price-to-earnings ratio of 14.34 and a beta of 4.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88.

Institutional Trading of DeFi Technologies

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in DeFi Technologies by 416.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after purchasing an additional 5,909,228 shares during the period. Millennium Management LLC boosted its position in shares of DeFi Technologies by 103.6% during the 4th quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock worth $4,404,000 after purchasing an additional 2,969,170 shares in the last quarter. Cable Car Capital LP acquired a new stake in shares of DeFi Technologies in the 3rd quarter valued at about $10,871,000. Galaxy Group Investments LLC acquired a new stake in shares of DeFi Technologies in the 4th quarter valued at about $3,752,000. Finally, Marshall Wace LLP increased its position in DeFi Technologies by 128.0% in the 3rd quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock valued at $9,251,000 after buying an additional 2,461,204 shares in the last quarter.

About DeFi Technologies

DeFi Technologies Inc is a Vancouver-based company focused on decentralized finance (DeFi) and digital asset investments. Through strategic equity stakes and token allocations, the company aims to provide investors with exposure to leading DeFi protocols, applications, and infrastructure projects. Its core activities include sourcing, evaluating and acquiring positions in blockchain-based platforms that facilitate decentralized lending, trading, yield farming and liquidity provision.

In addition to its investment portfolio, DeFi Technologies works to develop and distribute tokenized products that bridge traditional capital markets with emerging DeFi ecosystems.