DeFi Technologies Inc. (NASDAQ:DEFT) Given Average Recommendation of “Moderate Buy” by Analysts

DeFi Technologies Inc. (NASDAQ:DEFT) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.00.

DEFT has been the topic of a number of recent analyst reports. Benchmark dropped their price target on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, June 29th.

Institutional Investors Weigh In On DeFi Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Weiss Asset Management LP lifted its holdings in shares of DeFi Technologies by 0.6% during the 1st quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock valued at $4,444,000 after buying an additional 51,459 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of DeFi Technologies by 416.1% in 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. Millennium Management LLC grew its holdings in shares of DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock worth $4,404,000 after acquiring an additional 2,969,170 shares during the period. Cable Car Capital LP bought a new stake in shares of DeFi Technologies in the third quarter worth $10,871,000. Finally, Marshall Wace LLP increased its position in DeFi Technologies by 128.0% during 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 during the last quarter.

DeFi Technologies Trading Up 5.3%

DeFi Technologies stock opened at $0.51 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10. DeFi Technologies has a one year low of $0.39 and a one year high of $2.80. The stock has a market capitalization of $197.67 million, a PE ratio of 5.09 and a beta of 3.92. The business’s fifty day moving average is $0.49 and its 200 day moving average is $0.63.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $11.19 million during 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, sell-side analysts predict that DeFi Technologies will post -0.01 EPS for the current 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.