DeFi Technologies (NASDAQ:DEFT) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.50.

DeFi Technologies Price Performance

Shares of NASDAQ:DEFT opened at $0.71 on Friday. The firm has a 50 day moving average of $0.69 and a 200-day moving average of $1.23. The stock has a market capitalization of $276.22 million, a PE ratio of 4.19 and a beta of 4.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.02. DeFi Technologies has a 12 month low of $0.47 and a 12 month high of $4.95.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $19.08 million for the quarter. DeFi Technologies had a net margin of 23.89% and a return on equity of 105.69%.

Institutional Investors Weigh In On DeFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in DEFT. Steward Partners Investment Advisory LLC bought a new position in DeFi Technologies in the 2nd quarter valued at approximately $39,000. Jones Financial Companies Lllp grew its stake in shares of DeFi Technologies by 971.4% during the third quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after buying an additional 13,600 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of DeFi Technologies during the second quarter worth $41,000. Royal Bank of Canada increased its holdings in shares of DeFi Technologies by 54.5% during the fourth quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock worth $33,000 after buying an additional 15,133 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of DeFi Technologies during the third quarter worth $34,000.

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.