Investors Buy Large Volume of DeFi Technologies Call Options (NASDAQ:DEFT)

DeFi Technologies Inc. (NASDAQ:DEFT) saw unusually large options trading activity on Wednesday. Traders bought 4,237 call options on the stock. This is an increase of 214% compared to the average daily volume of 1,350 call options.

DeFi Technologies Stock Up 6.9%

DEFT opened at $0.81 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.02. The stock has a market cap of $314.66 million, a price-to-earnings ratio of 4.77 and a beta of 4.24. DeFi Technologies has a twelve month low of $0.47 and a twelve month high of $4.95. The company’s 50-day moving average price is $0.69 and its two-hundred day moving average price is $1.08.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP purchased a new position in DeFi Technologies in the second quarter valued at about $41,000. 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 acquiring an additional 13,600 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in DeFi Technologies in the third quarter valued at about $34,000. Shay Capital LLC purchased a new position in DeFi Technologies in the second quarter valued at about $50,000. Finally, Lazard Asset Management LLC purchased a new position in DeFi Technologies in the second quarter valued at about $51,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DEFT. Weiss Ratings raised shares of DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, April 8th. HC Wainwright decreased their target price on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of DeFi Technologies from a “sell” rating to a “strong sell” rating in a research report on Monday. B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Finally, Maxim Group reduced their price objective on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a research report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2.25.

About DeFi Technologies

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.