Brokerages Set DeFi Technologies Inc. (NASDAQ:DEFT) Target Price at $1.44

DeFi Technologies Inc. (NASDAQ:DEFT) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $1.4375.

Several equities analysts recently weighed in on DEFT shares. Maxim Group cut shares of DeFi Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings lowered shares of DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Northland Securities set a $1.25 price target on shares of DeFi Technologies in a research note on Monday, August 17th. Wall Street Zen downgraded shares of DeFi Technologies to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Benchmark lowered 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.

DeFi Technologies Stock Performance

DEFT opened at $0.61 on Monday. The business’s 50-day simple moving average is $0.51 and its 200 day simple moving average is $0.61. DeFi Technologies has a 52-week low of $0.39 and a 52-week high of $2.80. The firm has a market capitalization of $235.76 million, a PE ratio of 10.13 and a beta of 4.06.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). DeFi Technologies had a net margin of 39.65% and a return on equity of 15.43%. On average, research analysts forecast that DeFi Technologies will post -0.04 earnings per share for the current year.

Institutional Trading of DeFi Technologies

Institutional investors have recently modified their holdings of the stock. Amundi acquired a new stake in shares of DeFi Technologies during the 2nd quarter worth $40,000. GTS Securities LLC acquired a new position in DeFi Technologies in the second quarter valued at about $61,000. Public Employees Retirement System of Ohio acquired a new position in DeFi Technologies in the second quarter valued at about $64,000. Cable Car Capital LP bought a new stake in DeFi Technologies during the second quarter worth about $677,000. Finally, Legal & General Group Plc bought a new stake in DeFi Technologies during the second quarter worth about $185,000.

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.