DeFi Technologies (NASDAQ:DEFT) Downgraded by Wall Street Zen to Sell

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

Several other analysts also recently issued reports on the company. Benchmark reduced their price target on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a research report on Wednesday, January 21st. Finally, Northland Securities set a $2.50 price target on shares of DeFi Technologies in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Up 14.7%

Shares of DEFT opened at $0.80 on Friday. DeFi Technologies has a 52 week low of $0.68 and a 52 week high of $4.95. The firm has a market cap of $308.07 million, a P/E ratio of 15.96 and a beta of 4.35. The firm’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DEFT. WNY Asset Management LLC bought a new stake in DeFi Technologies during the second quarter worth $29,000. OMERS ADMINISTRATION Corp acquired a new position in shares of DeFi Technologies during the 2nd quarter worth $31,000. Brookstone Capital Management acquired a new position in shares of DeFi Technologies during the 2nd quarter worth $37,000. Steward Partners Investment Advisory LLC bought a new stake in shares of DeFi Technologies during the 2nd quarter worth $39,000. Finally, Jones Financial Companies Lllp boosted its stake in 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 buying an additional 13,600 shares in the last quarter.

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.