DeFi Technologies Inc. (NASDAQ:DEFT) Given Consensus Recommendation of “Moderate Buy” by Analysts

DeFi Technologies Inc. (NASDAQ:DEFT) has been given a consensus rating of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $2.00.

A number of analysts have recently commented on the company. Wall Street Zen raised DeFi Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Benchmark dropped their price objective on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. HC Wainwright decreased their target price on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. B. Riley Financial restated a “buy” rating on shares of DeFi Technologies in a report on Wednesday, April 8th. Finally, Maxim Group decreased their target price on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a report on Monday, April 13th.

DeFi Technologies Stock Down 3.8%

DEFT opened at $0.55 on Friday. DeFi Technologies has a one year low of $0.47 and a one year high of $3.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The stock’s fifty day moving average is $0.71 and its 200-day moving average is $0.83. The company has a market capitalization of $214.59 million, a PE ratio of 5.53 and a beta of 3.68.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings data on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The company had revenue of $19.08 million for the quarter. On average, equities analysts predict that DeFi Technologies will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds have recently modified their holdings of the stock. Weiss Asset Management LP grew its holdings in shares of DeFi Technologies by 0.6% in the 1st quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock worth $4,444,000 after acquiring an additional 51,459 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of DeFi Technologies by 416.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after acquiring an additional 5,909,228 shares during the last quarter. Millennium Management LLC grew its holdings in shares of DeFi Technologies by 103.6% in the 4th 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 during the last quarter. Cable Car Capital LP acquired a new position in shares of DeFi Technologies in the 3rd quarter worth $10,871,000. Finally, Marshall Wace LLP grew its holdings in shares of DeFi Technologies by 128.0% in the 3rd quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock worth $9,251,000 after acquiring 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.