DeFi Technologies Inc. (NASDAQ:DEFT) Given Consensus Rating of “Moderate Buy” by Brokerages

DeFi Technologies Inc. (NASDAQ:DEFT) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2.00.

DEFT has been the topic of several analyst reports. Weiss Ratings raised DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, April 8th. B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Benchmark cut their target price 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. HC Wainwright cut their target price on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th.

DeFi Technologies Stock Down 1.8%

Shares of NASDAQ:DEFT opened at $0.65 on Friday. The business’s 50 day simple moving average is $0.71 and its two-hundred day simple moving average is $0.86. The firm has a market cap of $252.23 million, a P/E ratio of 6.50 and a beta of 4.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. DeFi Technologies has a 52-week low of $0.47 and a 52-week high of $3.79.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $19.08 million for the quarter. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%. As a group, research analysts forecast that DeFi Technologies will post -0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of DeFi Technologies during the first quarter valued at approximately $25,000. Commonwealth Equity Services LLC lifted its holdings 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 period. Jones Financial Companies Lllp lifted its holdings 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 period. Royal Bank of Canada lifted its holdings 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 period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in DeFi Technologies during the third quarter worth $34,000.

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.