DeFi Technologies (NASDAQ:DEFT) Price Target Cut to $1.50 by Analysts at Maxim Group

DeFi Technologies (NASDAQ:DEFT) had its price target decreased by Maxim Group from $2.00 to $1.50 in a research note published on Monday,Benzinga reports. Maxim Group currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on DEFT. HC Wainwright reduced their price target on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Wall Street Zen cut DeFi Technologies from a “hold” rating to a “sell” rating in a report on Sunday. B. Riley Financial reiterated a “buy” rating on shares of DeFi Technologies in a report on Wednesday, April 8th. Finally, Weiss Ratings upgraded DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2.25.

DeFi Technologies Price Performance

Shares of NASDAQ DEFT opened at $0.76 on Monday. The stock has a market capitalization of $294.71 million, a price-to-earnings ratio of 4.47 and a beta of 4.24. The business has a 50-day moving average of $0.68 and a 200-day moving average of $1.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.99. DeFi Technologies has a fifty-two week low of $0.47 and a fifty-two week high of $4.95.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings data on Thursday, April 2nd. The company reported $0.08 earnings per share for the quarter. The company had revenue of $19.08 million during the quarter. DeFi Technologies had a return on equity of 85.99% and a net margin of 63.61%.

Institutional Investors Weigh In On DeFi Technologies

Several hedge funds have recently bought and sold shares of DEFT. Commonwealth Equity Services LLC lifted its position in DeFi Technologies by 79.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock worth $28,000 after acquiring an additional 16,524 shares during the last quarter. Jones Financial Companies Lllp lifted its position in DeFi Technologies by 971.4% during the third quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after acquiring an additional 13,600 shares during the last quarter. Royal Bank of Canada lifted its position in DeFi Technologies by 54.5% during the fourth quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after acquiring an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in DeFi Technologies during the third quarter worth approximately $34,000. Finally, Ignite Planners LLC acquired a new stake in DeFi Technologies during the third quarter worth approximately $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.