Cable Car Capital LP Invests $677,000 in DeFi Technologies Inc. $DEFT

Cable Car Capital LP purchased a new stake in shares of DeFi Technologies Inc. (NASDAQ:DEFT) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,315,670 shares of the company’s stock, valued at approximately $677,000. Cable Car Capital LP owned approximately 0.34% of DeFi Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DEFT. Charles Schwab Investment Management Inc. grew its stake in shares of DeFi Technologies by 416.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock valued at $5,531,000 after acquiring an additional 5,909,228 shares in the last quarter. Millennium Management LLC lifted its stake in shares of DeFi Technologies by 103.6% in the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock worth $4,404,000 after acquiring an additional 2,969,170 shares in the last quarter. Marshall Wace LLP boosted its holdings in DeFi Technologies by 128.0% in the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock valued at $9,251,000 after purchasing an additional 2,461,204 shares during the last quarter. Galaxy Digital Inc. purchased a new position in DeFi Technologies in the first quarter valued at about $1,050,000. Finally, Invesco Ltd. grew its stake in DeFi Technologies by 141.4% during the 4th quarter. Invesco Ltd. now owns 2,140,354 shares of the company’s stock valued at $1,615,000 after purchasing an additional 1,253,690 shares in the last quarter.

DeFi Technologies Stock Down 2.6%

Shares of NASDAQ DEFT opened at $0.60 on Wednesday. The stock’s 50 day moving average price is $0.48 and its two-hundred day moving average price is $0.62. DeFi Technologies Inc. has a 52-week low of $0.39 and a 52-week high of $2.80. The stock has a market capitalization of $234.47 million, a P/E ratio of 10.07 and a beta of 3.92.

DeFi Technologies (NASDAQ:DEFT) last issued its earnings results on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). DeFi Technologies had a return on equity of 15.43% and a net margin of 39.65%. On average, analysts anticipate that DeFi Technologies Inc. will post -0.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings lowered DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday. Benchmark decreased their price target on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Maxim Group lowered shares of DeFi Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research note on Monday, August 17th. Finally, Wall Street Zen lowered shares of DeFi Technologies to a “strong sell” rating in a report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.44.

About DeFi Technologies

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.