DeFi Technologies Inc. (NASDAQ:DEFT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

DeFi Technologies Inc. (NASDAQ:DEFT) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $2.00.

A number of research analysts have recently commented on DEFT shares. B. Riley Financial reissued a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Benchmark reduced their target price on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. HC Wainwright reduced their target price on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Maxim Group reduced their target price on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Monday, April 13th.

DeFi Technologies Trading Down 0.9%

Shares of DEFT stock opened at $0.57 on Friday. The stock has a market cap of $220.41 million, a price-to-earnings ratio of 5.68 and a beta of 3.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.02. DeFi Technologies has a fifty-two week low of $0.47 and a fifty-two week high of $3.59. The firm’s 50 day moving average price is $0.71 and its two-hundred day moving average price is $0.83.

DeFi Technologies (NASDAQ:DEFT) last posted its earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. The business had revenue of $19.08 million for the quarter. On average, analysts anticipate that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Trading of DeFi Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Weiss Asset Management LP raised its holdings in DeFi Technologies by 0.6% in the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock valued at $4,444,000 after acquiring an additional 51,459 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $5,531,000 after acquiring an additional 5,909,228 shares in the last quarter. Millennium Management LLC raised its holdings in DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,969,170 shares in the last quarter. Cable Car Capital LP acquired a new stake in DeFi Technologies in the third quarter valued at $10,871,000. Finally, Marshall Wace LLP raised its holdings in DeFi Technologies by 128.0% in the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock valued at $9,251,000 after acquiring an additional 2,461,204 shares in the last quarter.

DeFi Technologies Company Profile

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.