DeFi Technologies Inc. (NASDAQ:DEFT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have been assigned an average rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2.00.

Several equities analysts have recently issued reports on DEFT shares. Weiss Ratings raised shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Benchmark decreased their price objective on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, May 18th. HC Wainwright decreased their price objective on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. B. Riley Financial reiterated a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock opened at $0.52 on Wednesday. The company has a 50 day moving average of $0.68 and a 200-day moving average of $0.77. DeFi Technologies has a 1-year low of $0.47 and a 1-year high of $3.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.02. The company has a market cap of $203.26 million, a PE ratio of 5.24 and a beta of 3.70.

DeFi Technologies (NASDAQ:DEFT) last issued its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share for the quarter. The company had revenue of $19.08 million during the quarter. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. As a group, equities research analysts forecast that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DEFT. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 5,909,228 shares during the last quarter. Cable Car Capital LP purchased a new position in DeFi Technologies during the third quarter worth about $10,871,000. Millennium Management LLC boosted its holdings in DeFi Technologies by 103.6% during the fourth quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock worth $4,404,000 after purchasing an additional 2,969,170 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in DeFi Technologies during the third quarter worth about $5,275,000. Finally, Marshall Wace LLP boosted its holdings in DeFi Technologies by 128.0% during the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after purchasing an additional 2,461,204 shares during the last quarter.

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.