Analysts Set DeFi Technologies Inc. (NASDAQ:DEFT) Target Price at $2.00

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2.00.

A number of analysts recently weighed in on the stock. HC Wainwright decreased their target price on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a report on Wednesday, April 8th. Benchmark lowered their price objective on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Maxim Group dropped their price objective 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. Finally, Weiss Ratings upgraded DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new stake in DeFi Technologies during the second quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of DeFi Technologies during the 3rd quarter worth $34,000. Shay Capital LLC bought a new stake in shares of DeFi Technologies during the 2nd quarter worth $50,000. Lazard Asset Management LLC purchased a new position in DeFi Technologies in the second quarter worth $51,000. Finally, Captrust Financial Advisors bought a new position in DeFi Technologies in the second quarter valued at $57,000.

DeFi Technologies Stock Up 2.7%

Shares of NASDAQ DEFT 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. The company has a market cap of $163.80 million, a P/E ratio of 4.22 and a beta of 3.81. DeFi Technologies has a 52 week low of $0.41 and a 52 week high of $3.43. The business has a 50-day simple moving average of $0.56 and a two-hundred day simple moving average of $0.70.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The firm had revenue of $11.19 million for the quarter, compared to analysts’ expectations of $10.68 million. Research analysts anticipate that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

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.