Traders Purchase High Volume of Call Options on DeFi Technologies (NASDAQ:DEFT)

DeFi Technologies Inc. (NASDAQ:DEFT) was the target of some unusual options trading activity on Friday. Stock traders purchased 4,365 call options on the stock. This represents an increase of approximately 209% compared to the average volume of 1,413 call options.

DeFi Technologies Stock Up 0.5%

DeFi Technologies stock opened at $0.42 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 12-month low of $0.41 and a 12-month high of $3.47. The firm’s fifty day moving average is $0.58 and its 200 day moving average is $0.70. The company has a market capitalization of $164.92 million, a PE ratio of 4.25 and a beta of 3.81.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. The business had revenue of $11.19 million for the quarter, compared to analyst estimates of $10.68 million. As a group, sell-side analysts predict that DeFi Technologies will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DEFT. Wall Street Zen upgraded DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, June 29th. B. Riley Financial reissued a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Weiss Ratings upgraded DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. HC Wainwright decreased their target price on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Maxim Group decreased their target price on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

Hedge Funds Weigh In On DeFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hudson Bay Capital Management LP bought a new stake in DeFi Technologies in the 2nd quarter valued at about $41,000. Royal Bank of Canada boosted its holdings in DeFi Technologies by 54.5% in 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in DeFi Technologies in the third quarter worth approximately $34,000. Commonwealth Equity Services LLC boosted its holdings in DeFi Technologies by 79.6% in 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 in the last quarter. Finally, Shay Capital LLC acquired a new stake in DeFi Technologies in the second quarter valued at approximately $50,000.

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.