DeFi Technologies (NASDAQ:DEFT) Cut to “Sell” at Wall Street Zen

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

Other equities analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $5.50 price target on shares of DeFi Technologies in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, DeFi Technologies has a consensus rating of “Hold” and a consensus price target of $6.25.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock opened at $1.91 on Friday. The company’s 50-day simple moving average is $2.19. DeFi Technologies has a twelve month low of $1.50 and a twelve month high of $4.95. The firm has a market cap of $649.69 million, a price-to-earnings ratio of 21.22 and a beta of 3.65.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). DeFi Technologies had a net margin of 43.38% and a return on equity of 137.53%. The firm had revenue of $13.42 million for the quarter, compared to the consensus estimate of $42.08 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. WNY Asset Management LLC bought a new position in DeFi Technologies in the 2nd quarter worth approximately $29,000. OMERS ADMINISTRATION Corp bought a new position in DeFi Technologies in the 2nd quarter worth approximately $31,000. HighMark Wealth Management LLC bought a new position in DeFi Technologies in the 2nd quarter worth approximately $35,000. Brookstone Capital Management bought a new position in DeFi Technologies in the 2nd quarter worth approximately $37,000. Finally, Steward Partners Investment Advisory LLC bought a new position in DeFi Technologies in the 2nd quarter worth approximately $39,000.

DeFi Technologies Company Profile

DeFi Technologies, Inc engages in the provision of investment services. It plans to acquire equity, debt, or other securities of publicly traded or private companies or other entities. The firm offers DeFi ETNs, DeFi Governance, DeFi Venture and DeFi Treasury. The company was founded by Olivier Francois Roussy Newton and Wouter Witvoet on April 14, 1986 and is headquartered in Toronto, Canada.