Cable Car Capital LP Acquires New Position in DeFi Technologies Inc. $DEFT

Cable Car Capital LP acquired a new position in shares of DeFi Technologies Inc. (NASDAQ:DEFT) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,315,670 shares of the company’s stock, valued at approximately $677,000.

A number of other large investors have also recently bought and sold shares of the business. Hudson Bay Capital Management LP acquired a new position in DeFi Technologies in the second quarter valued at approximately $41,000. Royal Bank of Canada raised its position in shares of DeFi Technologies by 54.5% during the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after purchasing an additional 15,133 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DeFi Technologies during the 3rd quarter worth approximately $34,000. Commonwealth Equity Services LLC lifted its holdings in shares of DeFi Technologies by 79.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock worth $28,000 after purchasing an additional 16,524 shares during the last quarter. Finally, Shay Capital LLC acquired a new position in DeFi Technologies during the 2nd quarter valued at approximately $50,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DEFT shares. Weiss Ratings lowered DeFi Technologies from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday. Wall Street Zen downgraded shares of DeFi Technologies to a “strong sell” rating in a report on Saturday, August 15th. Benchmark lowered their price target on shares of DeFi Technologies from $2.00 to $1.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Maxim Group cut shares of DeFi Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Northland Securities set a $1.25 price objective on shares of DeFi Technologies in a research report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DeFi Technologies currently has a consensus rating of “Hold” and an average target price of $1.44.

DeFi Technologies Price Performance

Shares of DEFT stock opened at $0.60 on Wednesday. DeFi Technologies Inc. has a 12-month low of $0.39 and a 12-month high of $2.80. The firm has a market capitalization of $234.47 million, a price-to-earnings ratio of 10.07 and a beta of 3.92. The business has a 50 day simple moving average of $0.48 and a 200 day simple moving average of $0.62.

DeFi Technologies (NASDAQ:DEFT) last posted its earnings results on Thursday, August 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that DeFi Technologies Inc. will post -0.03 EPS for the current fiscal year.

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.