DeFi Technologies (NASDAQ:DEFT) Downgraded by Wall Street Zen to Strong Sell
by Scott Moore · The Cerbat GemWall Street Zen downgraded shares of DeFi Technologies (NASDAQ:DEFT – Free Report) from a sell rating to a strong sell rating in a report issued on Monday morning.
Several other brokerages also recently issued reports on DEFT. Maxim Group reduced their price target on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Monday, April 13th. HC Wainwright dropped their target price on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings upgraded shares of DeFi Technologies from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, April 8th. Finally, B. Riley Financial reissued a “buy” rating on shares of DeFi Technologies in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, DeFi Technologies currently has an average rating of “Moderate Buy” and an average target price of $2.25.
View Our Latest Report on DEFT
DeFi Technologies Trading Up 0.1%
Shares of DEFT opened at $0.81 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $312.61 million, a price-to-earnings ratio of 4.74 and a beta of 4.24. The stock has a fifty day moving average price of $0.69 and a two-hundred day moving average price of $1.10. DeFi Technologies has a 52-week low of $0.47 and a 52-week high of $4.95.
DeFi Technologies (NASDAQ:DEFT – Get Free Report) last announced its earnings results on Thursday, April 2nd. The company reported $0.08 EPS for the quarter. DeFi Technologies had a return on equity of 85.99% and a net margin of 63.61%.The company had revenue of $19.08 million for the quarter.
Institutional Trading of DeFi Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in DeFi Technologies by 971.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 15,000 shares of the company’s stock worth $32,000 after purchasing an additional 13,600 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of DeFi Technologies in the 2nd quarter valued at about $41,000. Royal Bank of Canada boosted its stake in shares of DeFi Technologies by 54.5% in the 4th quarter. Royal Bank of Canada now owns 42,900 shares of the company’s stock valued at $33,000 after purchasing an additional 15,133 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of DeFi Technologies during the 3rd quarter worth approximately $34,000. Finally, Commonwealth Equity Services LLC grew its position in shares of DeFi Technologies by 79.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,270 shares of the company’s stock worth $28,000 after buying an additional 16,524 shares during the period.
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.