DeFi Technologies Inc. (NASDAQ:DEFT) Short Interest Down 19.0% in February

DeFi Technologies Inc. (NASDAQ:DEFT) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 16,891,402 shares, a decline of 19.0% from the February 12th total of 20,859,504 shares. Based on an average daily trading volume, of 2,551,123 shares, the short-interest ratio is presently 6.6 days. Currently, 4.4% of the company’s stock are sold short. Currently, 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 2,551,123 shares, the short-interest ratio is presently 6.6 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp bought a new stake in DeFi Technologies during the second quarter worth $31,000. Steward Partners Investment Advisory LLC bought a new position in DeFi Technologies during the 2nd quarter valued at $39,000. Jones Financial Companies Lllp boosted its holdings in DeFi Technologies by 971.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after acquiring an additional 13,600 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in DeFi Technologies during the 2nd quarter worth $41,000. Finally, Allworth Financial LP bought a new stake in shares of DeFi Technologies in the 2nd quarter worth $44,000.

DeFi Technologies Stock Up 3.0%

NASDAQ DEFT traded up $0.02 during trading hours on Monday, hitting $0.66. The company’s stock had a trading volume of 2,091,676 shares, compared to its average volume of 3,622,097. The company has a market capitalization of $257.10 million, a PE ratio of 13.26 and a beta of 4.38. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 52 week low of $0.60 and a 52 week high of $4.95. The company’s 50-day simple moving average is $0.81 and its two-hundred day simple moving average is $1.39.

Analyst Upgrades and Downgrades

DEFT has been the topic of several recent research reports. Benchmark cut their price target on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Northland Securities set a $2.50 target price 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.50.

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.