DeFi Technologies (NASDAQ:DEFT) Upgraded at Wall Street Zen

DeFi Technologies (NASDAQ:DEFT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

DEFT has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, October 8th. Northland Securities set a $2.50 price target on DeFi Technologies in a report on Monday, November 17th. Benchmark cut their price objective on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a report on Friday, November 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.50 target price on shares of DeFi Technologies in a research note on Friday, September 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DeFi Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

DeFi Technologies Price Performance

Shares of NASDAQ:DEFT opened at $0.82 on Friday. The company has a 50 day moving average of $1.40 and a 200 day moving average of $2.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. The stock has a market cap of $316.73 million, a P/E ratio of 16.42 and a beta of 3.82. DeFi Technologies has a 12 month low of $0.82 and a 12 month high of $4.95.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $22.53 million during the quarter, compared to the consensus estimate of $41.00 million. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Institutional Trading of DeFi Technologies

A number of hedge funds have recently bought and sold shares of DEFT. WNY Asset Management LLC bought a new position in DeFi Technologies during the second quarter valued at approximately $29,000. OMERS ADMINISTRATION Corp bought a new stake in shares of DeFi Technologies in the 2nd quarter worth approximately $31,000. Jones Financial Companies Lllp boosted its stake in shares of DeFi Technologies by 971.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock valued at $32,000 after purchasing an additional 13,600 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of DeFi Technologies during the 3rd quarter valued at $34,000. Finally, HighMark Wealth Management LLC purchased a new position in DeFi Technologies in the 2nd quarter worth $35,000.

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.