Stock Traders Buy High Volume of Call Options on DeFi Technologies (NASDAQ:DEFT)

DeFi Technologies Inc. (NASDAQ:DEFT) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 2,423 call options on the company. This is an increase of 72% compared to the typical volume of 1,411 call options.

Institutional Trading of DeFi Technologies

A number of large investors have recently modified their holdings of the stock. Brevan Howard Capital Management LP acquired a new stake in DeFi Technologies in the 3rd quarter valued at about $5,275,000. NewGen Asset Management Ltd acquired a new position in shares of DeFi Technologies during the third quarter worth about $2,890,000. Polar Asset Management Partners Inc. acquired a new position in shares of DeFi Technologies during the third quarter worth about $1,652,000. Galaxy Digital Inc. purchased a new stake in shares of DeFi Technologies during the first quarter worth approximately $1,050,000. Finally, SEB Asset Management AB purchased a new stake in shares of DeFi Technologies during the first quarter worth approximately $98,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DEFT. Benchmark decreased their target price on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research note on Monday. HC Wainwright lowered their price objective on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. B. Riley Financial reissued a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Finally, Maxim Group lowered their price target on DeFi Technologies from $2.00 to $1.50 and set a “buy” rating for the company in a research report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DeFi Technologies presently has an average rating of “Moderate Buy” and an average target price of $2.00.

DeFi Technologies Trading Down 2.4%

NASDAQ DEFT opened at $0.51 on Wednesday. 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 $199.54 million, a price-to-earnings ratio of 5.14 and a beta of 3.68. The firm has a 50 day simple moving average of $0.65 and a 200-day simple moving average of $0.74. DeFi Technologies has a one year low of $0.47 and a one year high of $3.59.

DeFi Technologies (NASDAQ:DEFT) last released its earnings results on Thursday, April 2nd. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $19.08 million for the quarter. DeFi Technologies had a net margin of 56.94% and a return on equity of 42.24%. Equities research analysts anticipate that DeFi Technologies will post -0.01 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.