DeFi Technologies (NASDAQ:DEFT) Releases Quarterly Earnings Results

DeFi Technologies (NASDAQ:DEFT) posted its quarterly earnings results on Thursday. The company reported $0.03 EPS for the quarter, Zacks reports. DeFi Technologies had a net margin of 39.65% and a return on equity of 15.43%.

DeFi Technologies Stock Performance

DEFT stock traded down $0.03 on Thursday, hitting $0.30. 2,812,237 shares of the company’s stock were exchanged, compared to its average volume of 3,938,714. DeFi Technologies has a 12-month low of $0.30 and a 12-month high of $1.70. The firm has a 50 day moving average price of $0.48 and a two-hundred day moving average price of $0.59. The stock has a market cap of $117.90 million, a P/E ratio of 5.06 and a beta of 4.29.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research note on Monday, August 17th. Weiss Ratings raised shares of DeFi Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Benchmark reduced their price objective on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Maxim Group lowered DeFi Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen cut DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1.44.

DeFi Technologies Company Profile

DeFi Technologies is a Canadian financial technology company focused on providing traditional investors with access to digital assets and decentralized finance. Its business includes exchange-traded products, institutional digital-asset services, research and trading activities. Through its subsidiary Valour, the company issues digital-asset exchange-traded products that give investors exposure to cryptocurrencies through traditional securities markets. Valour’s products are available on exchanges in multiple international markets, including Europe.