DeFi Technologies (NASDAQ:DEFT) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of DeFi Technologies (NASDAQ:DEFTFree Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other analysts also recently issued reports on DEFT. Weiss Ratings reiterated a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $5.50 price target on shares of DeFi Technologies in a research report on Friday, September 26th. Northland Securities set a $2.50 price objective on shares of DeFi Technologies in a report on Monday, November 17th. Finally, Benchmark lowered 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. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.50.

Check Out Our Latest Report on DEFT

DeFi Technologies Stock Performance

DEFT opened at $1.02 on Friday. DeFi Technologies has a 52-week low of $0.73 and a 52-week high of $4.95. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $1.18 and its two-hundred day simple moving average is $2.02. The company has a market cap of $393.67 million, a price-to-earnings ratio of 20.40 and a beta of 4.34.

DeFi Technologies (NASDAQ:DEFTGet Free Report) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to analyst estimates of $41.00 million. DeFi Technologies had a return on equity of 105.69% and a net margin of 23.89%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. WNY Asset Management LLC purchased a new position in DeFi Technologies during the 2nd quarter worth approximately $29,000. OMERS ADMINISTRATION Corp purchased a new position in shares of DeFi Technologies during the second quarter worth approximately $31,000. HighMark Wealth Management LLC acquired a new position in shares of DeFi Technologies in the 2nd quarter valued at $35,000. Brookstone Capital Management acquired a new position in shares of DeFi Technologies in the 2nd quarter valued at $37,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in DeFi Technologies in the 2nd quarter valued at $39,000.

Key Stories Impacting DeFi Technologies

Here are the key news stories impacting DeFi Technologies this week:

About DeFi Technologies

(Get Free Report)

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.

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