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

DeFi Technologies Inc. (NASDAQ:DEFT) was the target of some unusual options trading on Tuesday. Stock traders purchased 2,423 call options on the company. This represents an increase of 72% compared to the average daily volume of 1,411 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DEFT shares. Maxim Group lowered their price objective on shares of DeFi Technologies from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Monday, April 13th. Benchmark cut their target price on shares of DeFi Technologies from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Weiss Ratings raised shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Wall Street Zen upgraded shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, HC Wainwright dropped their price target on shares of DeFi Technologies from $5.50 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.00.

DeFi Technologies Price Performance

Shares of NASDAQ:DEFT opened at $0.51 on Thursday. The firm has a market cap of $198.14 million, a price-to-earnings ratio of 5.11 and a beta of 3.82. The firm has a fifty day moving average price of $0.65 and a 200 day moving average price of $0.74. DeFi Technologies has a fifty-two week low of $0.47 and a fifty-two week high of $3.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.10 and a current ratio of 1.10.

DeFi Technologies (NASDAQ:DEFT) last announced its quarterly 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%. As a group, sell-side analysts expect that DeFi Technologies will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weiss Asset Management LP grew its holdings in DeFi Technologies by 0.6% during the 1st quarter. Weiss Asset Management LP now owns 8,043,428 shares of the company’s stock valued at $4,444,000 after buying an additional 51,459 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of DeFi Technologies by 416.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,329,284 shares of the company’s stock worth $5,531,000 after acquiring an additional 5,909,228 shares in the last quarter. Millennium Management LLC boosted its position in shares of DeFi Technologies by 103.6% during the 4th quarter. Millennium Management LLC now owns 5,836,397 shares of the company’s stock valued at $4,404,000 after acquiring an additional 2,969,170 shares during the last quarter. Cable Car Capital LP bought a new position in shares of DeFi Technologies during the 3rd quarter valued at approximately $10,871,000. Finally, Marshall Wace LLP grew its holdings in shares of DeFi Technologies by 128.0% in the third quarter. Marshall Wace LLP now owns 4,384,356 shares of the company’s stock valued at $9,251,000 after purchasing an additional 2,461,204 shares in the last quarter.

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.