DeFi Technologies Inc. (NASDAQ:DEFT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $2.00.

A number of research analysts have recently issued reports on DEFT shares. Benchmark dropped their target price on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Maxim Group decreased their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a report on Monday, April 13th. Wall Street Zen upgraded shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, June 29th. HC Wainwright cut their price objective on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th.

DeFi Technologies Price Performance

Shares of NASDAQ:DEFT opened at $0.39 on Friday. DeFi Technologies has a one year low of $0.39 and a one year high of $3.02. The stock has a market capitalization of $153.12 million, a price-to-earnings ratio of 3.95 and a beta of 3.81. The company has a 50-day simple moving average of $0.54 and a 200-day simple moving average of $0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $11.19 million for the quarter, compared to analyst estimates of $10.68 million. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%. On average, analysts predict that DeFi Technologies will post -0.01 EPS for the current year.

Institutional Investors Weigh In On DeFi Technologies

A number of institutional investors have recently added to or reduced their stakes in DEFT. Charles Schwab Investment Management Inc. grew its holdings in DeFi Technologies by 416.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after acquiring an additional 5,909,228 shares during the period. Cable Car Capital LP acquired a new stake in DeFi Technologies in the third quarter valued at $10,871,000. 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. Marshall Wace LLP grew its stake in shares of DeFi Technologies by 128.0% during the 3rd quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after purchasing an additional 2,461,204 shares during the period. Finally, Galaxy Digital Inc. acquired a new position in shares of DeFi Technologies during the 1st quarter worth $1,050,000.

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.