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

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $2.00.

A number of equities research analysts have commented on DEFT shares. Wall Street Zen raised DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday. Maxim Group cut their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Monday, April 13th. Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th. HC Wainwright cut their price target on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DEFT. Charles Schwab Investment Management Inc. raised its stake in shares of DeFi Technologies by 416.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after buying an additional 5,909,228 shares during the last quarter. Cable Car Capital LP acquired a new position in DeFi Technologies in the 3rd quarter valued at about $10,871,000. Millennium Management LLC raised its stake in DeFi Technologies by 103.6% in the 4th quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after purchasing an additional 2,969,170 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in DeFi Technologies in the 3rd quarter valued at about $5,275,000. Finally, Marshall Wace LLP raised its stake 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 purchasing an additional 2,461,204 shares during the last quarter.

DeFi Technologies Price Performance

DeFi Technologies stock opened at $0.51 on Wednesday. DeFi Technologies has a one year low of $0.47 and a one year high of $3.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The business has a fifty day moving average of $0.65 and a two-hundred day moving average of $0.74. The company has a market cap of $199.54 million, a P/E ratio of 5.14 and a beta of 3.68.

DeFi Technologies (NASDAQ:DEFT) last released its earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The company had revenue of $19.08 million during the quarter. As a group, analysts predict that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

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.