Wall Street Zen Upgrades DeFi Technologies (NASDAQ:DEFT) to “Hold”

DeFi Technologies (NASDAQ:DEFT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts also recently commented on DEFT. Benchmark lowered their target price on DeFi Technologies from $8.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, November 21st. HC Wainwright reiterated a “buy” rating and set a $5.50 price objective on shares of DeFi Technologies in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of DeFi Technologies in a research note on Wednesday, October 8th. Finally, Northland Securities set a $2.50 target price on shares of DeFi Technologies in a research note on Monday, November 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DeFi Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

DeFi Technologies Trading Down 9.7%

Shares of DEFT stock opened at $0.82 on Friday. DeFi Technologies has a fifty-two week low of $0.82 and a fifty-two week high of $4.95. The stock’s fifty day moving average price is $1.40 and its two-hundred day moving average price is $2.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $316.73 million, a PE ratio of 16.42 and a beta of 3.83.

DeFi Technologies (NASDAQ:DEFT) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $22.53 million for the quarter, compared to analyst estimates of $41.00 million. DeFi Technologies had a return on equity of 105.69% and a net margin of 23.89%.

Hedge Funds Weigh In On DeFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEFT. WNY Asset Management LLC acquired a new position in shares of DeFi Technologies during the second quarter worth $29,000. OMERS ADMINISTRATION Corp bought a new position in DeFi Technologies during the 2nd quarter worth $31,000. HighMark Wealth Management LLC bought a new position in DeFi Technologies during the 2nd quarter worth $35,000. Brookstone Capital Management acquired a new position in DeFi Technologies during the 2nd quarter worth about $37,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of DeFi Technologies in the 2nd quarter valued at about $39,000.

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.