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

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

DEFT has been the subject of a number of other research reports. Northland Securities set a $2.50 price objective on shares of DeFi Technologies in a report on Monday, November 17th. Benchmark decreased their price target on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, November 21st. HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price target on shares of DeFi Technologies in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock opened at $0.82 on Friday. The business’s fifty day simple moving average is $1.40 and its 200 day simple moving average is $2.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 12 month low of $0.82 and a 12 month high of $4.95. The firm has a market capitalization of $316.73 million, a P/E ratio of 16.42 and a beta of 3.82.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Friday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to analysts’ expectations of $41.00 million. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DEFT. WNY Asset Management LLC purchased a new position in DeFi Technologies in the 2nd quarter valued at approximately $29,000. OMERS ADMINISTRATION Corp bought a new position in shares of DeFi Technologies in the second quarter worth $31,000. Jones Financial Companies Lllp grew its position 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 valued at $32,000 after purchasing an additional 13,600 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of DeFi Technologies during the 3rd quarter valued at $34,000. Finally, HighMark Wealth Management LLC bought a new stake in shares of DeFi Technologies during the 2nd quarter valued at $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.