DeFi Technologies (NASDAQ:DEFT) Releases Earnings Results

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

DeFi Technologies Stock Down 8.6%

NASDAQ:DEFT opened at $0.30 on Friday. DeFi Technologies has a 52 week low of $0.30 and a 52 week high of $1.70. The stock has a market capitalization of $117.90 million, a PE ratio of 5.06 and a beta of 4.29. The stock’s 50-day moving average price is $0.47 and its 200-day moving average price is $0.58.

Analyst Upgrades and Downgrades

DEFT has been the subject of a number of analyst reports. Wall Street Zen downgraded DeFi Technologies to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded DeFi Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research note on Monday, August 17th. Benchmark dropped their price objective on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Finally, Maxim Group lowered shares of DeFi Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.