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

DeFi Technologies Inc. (NASDAQ:DEFT) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $2.00.

DEFT has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. HC Wainwright dropped their price objective on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Benchmark lowered their price target on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a report on Monday, May 18th. Maxim Group lowered 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. Finally, Weiss Ratings raised shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th.

Institutional Investors Weigh In On DeFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEFT. Hudson Bay Capital Management LP acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $41,000. Royal Bank of Canada increased its stake in shares of DeFi Technologies by 54.5% during the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after purchasing an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of DeFi Technologies during the 3rd quarter worth about $34,000. Commonwealth Equity Services LLC boosted its position 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 purchasing an additional 16,524 shares during the period. Finally, Shay Capital LLC acquired a new position in DeFi Technologies in the 2nd quarter valued at about $50,000.

DeFi Technologies Stock Down 5.3%

DEFT stock opened at $0.52 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10. DeFi Technologies has a 52-week low of $0.47 and a 52-week high of $3.59. The company has a 50-day moving average of $0.68 and a two-hundred day moving average of $0.77. The stock has a market capitalization of $203.26 million, a price-to-earnings ratio of 5.24 and a beta of 3.70.

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

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.