DeFi Technologies (NASDAQ:DEFT) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities analysts have also weighed in on the stock. HC Wainwright dropped 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. Benchmark dropped their target price on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Maxim Group decreased their target price on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2.00.

DeFi Technologies Stock Performance

NASDAQ:DEFT opened at $0.53 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 12-month low of $0.47 and a 12-month high of $3.59. The stock has a 50-day moving average price of $0.70 and a 200 day moving average price of $0.81. The stock has a market capitalization of $206.64 million, a P/E ratio of 5.33 and a beta of 3.68.

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

Institutional Trading of DeFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in DeFi Technologies in the 2nd quarter worth about $41,000. Jones Financial Companies Lllp raised its position in DeFi Technologies by 971.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after purchasing an additional 13,600 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in DeFi Technologies in the 3rd quarter worth about $34,000. Shay Capital LLC purchased a new stake in DeFi Technologies in the 2nd quarter worth about $50,000. Finally, Lazard Asset Management LLC purchased a new stake in DeFi Technologies in the 2nd quarter worth about $51,000.

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.