DeFi Technologies (NASDAQ:DEFT) Rating Lowered to Sell at Wall Street Zen

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

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

DeFi Technologies Price Performance

NASDAQ DEFT opened at $1.64 on Friday. DeFi Technologies has a 12 month low of $0.91 and a 12 month high of $4.95. The firm has a market capitalization of $633.61 million, a PE ratio of 32.85 and a beta of 3.58. The company’s 50 day simple moving average is $1.84 and its 200 day simple moving average is $2.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%. The firm had revenue of $22.53 million for the quarter, compared to the consensus estimate of $41.00 million. DeFi Technologies has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DeFi Technologies during the third quarter valued at approximately $34,000. Prelude Capital Management LLC purchased a new position in DeFi Technologies during the 3rd quarter worth approximately $87,000. Millennium Management LLC raised its stake in DeFi Technologies by 3,123.1% during the 3rd quarter. Millennium Management LLC now owns 2,867,227 shares of the company’s stock valued at $5,980,000 after purchasing an additional 2,778,268 shares during the period. Brevan Howard Capital Management LP acquired a new stake in DeFi Technologies during the 3rd quarter valued at $5,275,000. Finally, Bank of America Corp DE lifted its holdings in shares of DeFi Technologies by 600.3% in the third quarter. Bank of America Corp DE now owns 41,315 shares of the company’s stock valued at $87,000 after purchasing an additional 35,415 shares in the last quarter.

About DeFi Technologies

DeFi Technologies, Inc engages in the provision of investment services. It plans to acquire equity, debt, or other securities of publicly traded or private companies or other entities. The firm offers DeFi ETNs, DeFi Governance, DeFi Venture and DeFi Treasury. The company was founded by Olivier Francois Roussy Newton and Wouter Witvoet on April 14, 1986 and is headquartered in Toronto, Canada.