DeFi Technologies Inc. (NASDAQ:DEFT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of DeFi Technologies Inc. (NASDAQ:DEFT) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $2.00.

DEFT has been the topic of several recent research reports. Weiss Ratings upgraded shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Wall Street Zen raised shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, June 29th. HC Wainwright reduced their price objective on DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. B. Riley Financial reaffirmed a “buy” rating on shares of DeFi Technologies in a report on Wednesday, April 8th. Finally, Benchmark lowered their target price on DeFi Technologies from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Monday, May 18th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Weiss Asset Management LP increased its holdings in DeFi Technologies by 0.6% in the 1st quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock worth $4,444,000 after acquiring an additional 51,459 shares in the last quarter. Galaxy Digital Inc. purchased a new position in DeFi Technologies during the first quarter valued at approximately $1,050,000. SEB Asset Management AB bought a new position in shares of DeFi Technologies in the first quarter worth approximately $98,000. SG Americas Securities LLC bought a new position in shares of DeFi Technologies in the first quarter worth approximately $25,000. Finally, Aristides Capital LLC bought a new position in shares of DeFi Technologies in the fourth quarter worth approximately $143,000.

DeFi Technologies Price Performance

NASDAQ DEFT opened at $0.39 on Friday. The company has a 50-day moving average price of $0.55 and a 200-day moving average price of $0.69. DeFi Technologies has a 52 week low of $0.39 and a 52 week high of $3.43. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $153.20 million, a P/E ratio of 3.95 and a beta of 3.81.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $11.19 million for the quarter, compared to the consensus estimate of $10.68 million. 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 earnings per share for the current year.

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.