DeFi Technologies (NASDAQ:DEFT) Issues Earnings Results

DeFi Technologies (NASDAQ:DEFT) posted its quarterly earnings data on Thursday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02), Zacks reports. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%.

DeFi Technologies Stock Performance

DEFT stock traded down $0.03 during mid-day trading on Thursday, hitting $0.48. The company had a trading volume of 3,256,837 shares, compared to its average volume of 4,590,243. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $186.65 million, a PE ratio of 4.81 and a beta of 3.92. DeFi Technologies has a 12 month low of $0.39 and a 12 month high of $2.80. The stock’s fifty day moving average price is $0.49 and its two-hundred day moving average price is $0.63.

Institutional Investors Weigh In On DeFi Technologies

Large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new stake in shares of DeFi Technologies in the 2nd quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in DeFi Technologies in the third quarter valued at approximately $34,000. Shay Capital LLC bought a new position in DeFi Technologies during the second quarter valued at $50,000. Lazard Asset Management LLC bought a new position in DeFi Technologies during the second quarter valued at $51,000. Finally, Captrust Financial Advisors purchased a new stake in DeFi Technologies in the second quarter worth $57,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DEFT. Weiss Ratings raised DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Benchmark dropped their price target on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen raised DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2.00.

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.