DeFi Technologies (NASDAQ:DEFT) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of DeFi Technologies (NASDAQ:DEFT) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a report on Wednesday, January 21st. Northland Securities set a $2.50 target price on DeFi Technologies in a report on Monday, November 17th. Finally, Benchmark reduced their price target on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DeFi Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Down 4.7%

Shares of DEFT opened at $0.76 on Friday. The stock has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.69. DeFi Technologies has a one year low of $0.68 and a one year high of $4.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $293.44 million, a price-to-earnings ratio of 15.20 and a beta of 4.36.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Friday, November 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to analyst estimates of $41.00 million. DeFi Technologies had a return on equity of 105.69% and a net margin of 23.89%.

Hedge Funds Weigh In On DeFi Technologies

Several large investors have recently modified their holdings of the business. Rathbones Group PLC acquired a new stake in DeFi Technologies in the 2nd quarter valued at approximately $8,789,000. Bank of Montreal Can purchased a new position in shares of DeFi Technologies during the second quarter worth $7,891,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of DeFi Technologies in the second quarter valued at $912,000. Brookstone Capital Management purchased a new stake in shares of DeFi Technologies in the 2nd quarter valued at $37,000. Finally, Western Wealth Management LLC purchased a new stake in shares of DeFi Technologies in the 2nd quarter valued at $418,000.

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.