Wall Street Zen Downgrades DeFi Technologies (NASDAQ:DEFT) to Sell

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

Other equities analysts have also issued reports about the stock. Weiss Ratings raised shares of DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, April 8th. HC Wainwright reduced their target price on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, DeFi Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $2.25.

DeFi Technologies Price Performance

Shares of NASDAQ DEFT opened at $0.76 on Friday. The firm has a market cap of $294.71 million, a PE ratio of 4.47 and a beta of 4.24. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 1-year low of $0.47 and a 1-year high of $4.95. The company has a fifty day moving average price of $0.68 and a 200 day moving average price of $1.14.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share for the quarter. The firm had revenue of $19.08 million during the quarter. DeFi Technologies had a net margin of 63.61% and a return on equity of 85.99%.

Hedge Funds Weigh In On DeFi Technologies

A number of large investors have recently modified their holdings of DEFT. Geode Capital Management LLC acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $1,294,000. JPMorgan Chase & Co. acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $88,000. Legal & General Group Plc acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $854,000. American Century Companies Inc. acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $71,000. Finally, Quantbot Technologies LP acquired a new position in shares of DeFi Technologies during the 2nd quarter worth about $160,000.

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.