DeFi Technologies Sees Unusually Large Options Volume (NASDAQ:DEFT)

DeFi Technologies Inc. (NASDAQ:DEFT) was the recipient of some unusual options trading on Friday. Traders bought 4,365 call options on the stock. This is an increase of 209% compared to the typical volume of 1,413 call options.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DEFT. Wall Street Zen upgraded DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, June 29th. Maxim Group dropped their target price on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a report on Monday, April 13th. B. Riley Financial reiterated a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Weiss Ratings raised shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Finally, HC Wainwright lowered their price target on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, DeFi Technologies has an average rating of “Moderate Buy” and an average target price of $2.00.

DeFi Technologies Price Performance

NASDAQ:DEFT opened at $0.42 on Friday. DeFi Technologies has a one year low of $0.41 and a one year high of $3.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $164.92 million, a PE ratio of 4.25 and a beta of 3.81. The stock has a 50 day moving average price of $0.58 and a 200 day moving average price of $0.70.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Polar Asset Management Partners Inc. acquired a new stake in DeFi Technologies during the third quarter worth about $1,652,000. Galaxy Digital Inc. purchased a new position in DeFi Technologies during the first quarter worth about $1,050,000. SEB Asset Management AB acquired a new position in DeFi Technologies in the 1st quarter valued at about $98,000. Royal Bank of Canada boosted its holdings in DeFi Technologies by 54.5% in the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock valued at $33,000 after purchasing an additional 15,133 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of DeFi Technologies by 79.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock valued at $28,000 after buying an additional 16,524 shares during the period.

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.