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

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $1.6875.

DEFT has been the subject of several research reports. Wall Street Zen cut shares of DeFi Technologies to a “strong sell” rating in a research report on Saturday. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Benchmark decreased their price target on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Northland Securities set a $1.25 price target on shares of DeFi Technologies in a report on Monday.

DeFi Technologies Price Performance

Shares of DEFT opened at $0.47 on Thursday. The company has a market capitalization of $180.51 million, a P/E ratio of 7.75 and a beta of 3.92. DeFi Technologies has a one year low of $0.39 and a one year high of $2.80. The business’s 50 day simple moving average is $0.49 and its 200-day simple moving average is $0.62.

DeFi Technologies (NASDAQ:DEFT) last released 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, sell-side analysts anticipate that DeFi Technologies will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On DeFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Weiss Asset Management LP increased its position in DeFi Technologies by 0.6% in the first quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock worth $4,444,000 after purchasing an additional 51,459 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 worth $5,531,000 after buying an additional 5,909,228 shares during the last quarter. Millennium Management LLC raised its stake in shares of 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 buying an additional 2,969,170 shares during the last quarter. Cable Car Capital LP bought a new position in DeFi Technologies in the third quarter valued at approximately $10,871,000. Finally, Marshall Wace LLP grew its holdings in DeFi Technologies by 128.0% during 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 period.

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.