DeFi Technologies (NASDAQ:DEFT) Sets New 52-Week Low – What’s Next?

DeFi Technologies Inc. (NASDAQ:DEFT)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.64 and last traded at $1.6350, with a volume of 2429264 shares traded. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

Several research firms have weighed in on DEFT. HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price target on shares of DeFi Technologies in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded DeFi Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.25.

DeFi Technologies Trading Down 7.7%

The firm has a market capitalization of $549.34 million, a price-to-earnings ratio of 17.94 and a beta of 3.58. The stock has a 50-day simple moving average of $2.16.

DeFi Technologies (NASDAQ:DEFT) last released its earnings results on Thursday, August 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). DeFi Technologies had a return on equity of 137.53% and a net margin of 43.38%.The business had revenue of $13.42 million for the quarter, compared to the consensus estimate of $42.08 million.

Hedge Funds Weigh In On DeFi Technologies

Institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in DeFi Technologies in the 2nd quarter worth about $912,000. Public Employees Retirement System of Ohio purchased a new stake in shares of DeFi Technologies during the 2nd quarter valued at approximately $196,000. Brookstone Capital Management purchased a new stake in shares of DeFi Technologies during the 2nd quarter valued at approximately $37,000. HighMark Wealth Management LLC bought a new stake in DeFi Technologies during the 2nd quarter valued at $35,000. Finally, FNY Investment Advisers LLC bought a new stake in DeFi Technologies during the 2nd quarter valued at $160,000.

DeFi Technologies Company Profile

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.