NewGen Asset Management Ltd Buys New Shares in DeFi Technologies Inc. $DEFT

NewGen Asset Management Ltd bought a new position in DeFi Technologies Inc. (NASDAQ:DEFT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,369,864 shares of the company’s stock, valued at approximately $2,890,000. DeFi Technologies accounts for about 0.8% of NewGen Asset Management Ltd’s holdings, making the stock its 18th largest holding. NewGen Asset Management Ltd owned about 0.36% of DeFi Technologies at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. OMERS ADMINISTRATION Corp purchased a new position in shares of DeFi Technologies in the second quarter valued at about $31,000. Steward Partners Investment Advisory LLC bought a new stake in DeFi Technologies during the 2nd quarter valued at approximately $39,000. Jones Financial Companies Lllp raised its stake in DeFi Technologies by 971.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock valued at $32,000 after purchasing an additional 13,600 shares during the period. Hudson Bay Capital Management LP purchased a new position in DeFi Technologies in the 2nd quarter worth approximately $41,000. Finally, Allworth Financial LP purchased a new position in DeFi Technologies in the 2nd quarter worth approximately $44,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark cut their price objective on shares of DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a report on Friday, November 21st. Northland Securities set a $2.50 target price on shares of DeFi Technologies in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of DeFi Technologies from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Stock Performance

NASDAQ DEFT opened at $0.68 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. DeFi Technologies Inc. has a 1-year low of $0.60 and a 1-year high of $4.95. The business has a 50 day simple moving average of $0.82 and a two-hundred day simple moving average of $1.43. The stock has a market capitalization of $262.97 million, a PE ratio of 13.58 and a beta of 4.38.

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.