DeFi Technologies (NASDAQ:DEFT) Hits New 52-Week Low – Here’s Why

DeFi Technologies Inc. (NASDAQ:DEFT) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.50 and last traded at $1.5050, with a volume of 3874586 shares traded. The stock had previously closed at $1.60.

Wall Street Analysts Forecast Growth

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

DeFi Technologies Trading Down 6.6%

The stock has a market capitalization of $508.53 million, a PE ratio of 16.61 and a beta of 3.58. The firm’s fifty day moving average price is $2.12.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DEFT. Wealth Enhancement Advisory Services LLC acquired a new position in DeFi Technologies in the 2nd quarter valued at about $76,000. Public Employees Retirement System of Ohio purchased a new position in shares of DeFi Technologies in the second quarter valued at approximately $196,000. Novem Group purchased a new position in shares of DeFi Technologies in the second quarter valued at approximately $43,000. HighMark Wealth Management LLC acquired a new position in shares of DeFi Technologies in the second quarter valued at approximately $35,000. Finally, Capital Advisors Inc. OK purchased a new stake in DeFi Technologies during the 2nd quarter worth approximately $88,000.

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.