Wall Street Zen Upgrades DeFi Technologies (NASDAQ:DEFT) to “Hold”

DeFi Technologies (NASDAQ:DEFT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Performance

NASDAQ:DEFT opened at $0.71 on Friday. The company has a market capitalization of $276.22 million, a price-to-earnings ratio of 4.19 and a beta of 4.24. The business has a 50 day moving average of $0.69 and a 200 day moving average of $1.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. DeFi Technologies has a 1-year low of $0.47 and a 1-year high of $4.95.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. The business had revenue of $19.08 million for the quarter. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Hedge Funds Weigh In On DeFi Technologies

A number of large investors have recently bought and sold shares of DEFT. Commonwealth Equity Services LLC lifted its position in DeFi Technologies by 79.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock valued at $28,000 after purchasing an additional 16,524 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of DeFi Technologies by 971.4% in the third quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after purchasing an additional 13,600 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of DeFi Technologies by 54.5% in the fourth quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after purchasing an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of DeFi Technologies in the third quarter worth $34,000. Finally, Ignite Planners LLC purchased a new position in shares of DeFi Technologies in the third quarter worth $35,000.

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.