DeFi Technologies (NASDAQ:DEFT) Given New $2.00 Price Target at HC Wainwright

DeFi Technologies (NASDAQ:DEFT) had its price objective reduced by HC Wainwright from $5.50 to $2.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on DEFT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Wall Street Zen raised DeFi Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.63.

DeFi Technologies Stock Performance

NASDAQ:DEFT opened at $0.78 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. DeFi Technologies has a 1 year low of $0.47 and a 1 year high of $4.95. The stock’s 50 day simple moving average is $0.69 and its two-hundred day simple moving average is $1.19. The company has a market cap of $302.86 million, a price-to-earnings ratio of 4.59 and a beta of 4.24.

DeFi Technologies (NASDAQ:DEFT) last released its quarterly earnings data on Thursday, April 2nd. The company reported $0.08 earnings per share (EPS) for the quarter. DeFi Technologies had a return on equity of 105.69% and a net margin of 23.89%.The business had revenue of $19.08 million for the quarter.

Hedge Funds Weigh In On DeFi Technologies

Several large investors have recently modified their holdings of DEFT. Charles Schwab Investment Management Inc. increased its position in shares of DeFi Technologies by 416.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock valued at $5,531,000 after purchasing an additional 5,909,228 shares during the last quarter. Cable Car Capital LP bought a new position in DeFi Technologies in the 3rd quarter valued at $10,871,000. Millennium Management LLC grew its position in DeFi Technologies by 103.6% in the 4th quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,969,170 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in DeFi Technologies in the 3rd quarter valued at $5,275,000. Finally, Marshall Wace LLP grew its position in DeFi Technologies by 128.0% in the 3rd 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 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.