DeFi Technologies (NASDAQ:DEFT) Upgraded to “Sell” at Wall Street Zen

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

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

DeFi Technologies Stock Performance

Shares of NASDAQ DEFT opened at $0.48 on Monday. DeFi Technologies has a 1 year low of $0.47 and a 1 year high of $3.59. The firm has a market cap of $188.20 million, a P/E ratio of 4.85 and a beta of 3.70. The stock has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.75. 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 (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 for the quarter. Research analysts forecast that DeFi Technologies will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP purchased a new position in DeFi Technologies during the 3rd quarter worth approximately $5,275,000. NewGen Asset Management Ltd purchased a new stake in shares of DeFi Technologies in the third quarter valued at $2,890,000. Polar Asset Management Partners Inc. purchased a new stake in shares of DeFi Technologies in the third quarter valued at $1,652,000. Galaxy Digital Inc. acquired a new stake in shares of DeFi Technologies in the first quarter worth $1,050,000. Finally, SEB Asset Management AB acquired a new stake in shares of DeFi Technologies in the first quarter worth $98,000.

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.