DeFi Technologies (NASDAQ:DEFT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DeFi Technologies (NASDAQ:DEFT) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently weighed in on DEFT. HC Wainwright reiterated a “buy” rating and issued a $5.50 target price on shares of DeFi Technologies in a report on Friday, September 26th. Benchmark lowered their price objective on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Northland Securities set a $2.50 price objective on shares of DeFi Technologies in a research note on Monday, November 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of DeFi Technologies in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Performance

Shares of DeFi Technologies stock opened at $0.74 on Friday. The stock has a market cap of $285.75 million, a PE ratio of 14.82 and a beta of 3.83. The business has a fifty day simple moving average of $1.37 and a 200-day simple moving average of $2.14. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 12 month low of $0.73 and a 12 month high of $4.95.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to analyst estimates of $41.00 million. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Institutional Investors Weigh In On DeFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of DEFT. Cable Car Capital LP acquired a new position in DeFi Technologies during the third quarter worth $10,871,000. Marshall Wace LLP lifted its position in shares of DeFi Technologies by 128.0% in the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after buying an additional 2,461,204 shares during the last quarter. Millennium Management LLC boosted its stake in shares of DeFi Technologies by 3,123.1% during the 3rd quarter. Millennium Management LLC now owns 2,867,227 shares of the company’s stock worth $5,980,000 after acquiring an additional 2,778,268 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of DeFi Technologies during the 2nd quarter valued at about $8,789,000. Finally, Bank of Montreal Can acquired a new position in shares of DeFi Technologies during the 2nd quarter valued at about $7,891,000.

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.