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

DeFi Technologies Inc. (NASDAQ:DEFT) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $2.00.

A number of research firms have weighed in on DEFT. B. Riley Financial restated a “buy” rating on shares of DeFi Technologies in a research report on Wednesday, April 8th. Benchmark dropped 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. HC Wainwright cut 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. Wall Street Zen upgraded shares of DeFi Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, June 29th. Finally, Weiss Ratings raised shares of DeFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 8th.

Hedge Funds Weigh In On DeFi Technologies

A number of hedge funds have recently made changes to their positions in the company. Hudson Bay Capital Management LP purchased a new position in shares of DeFi Technologies in the second quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of DeFi Technologies during the third quarter worth approximately $34,000. Shay Capital LLC acquired a new position in DeFi Technologies in the 2nd quarter valued at $50,000. Lazard Asset Management LLC acquired a new position in DeFi Technologies in the 2nd quarter valued at $51,000. Finally, Captrust Financial Advisors purchased a new position in DeFi Technologies in the 2nd quarter valued at $57,000.

DeFi Technologies Stock Up 0.5%

DeFi Technologies stock opened at $0.42 on Friday. The stock has a market capitalization of $164.92 million, a PE ratio of 4.25 and a beta of 3.81. DeFi Technologies has a 12 month low of $0.41 and a 12 month high of $3.47. The business has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.70. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.10 and a quick ratio of 1.10.

DeFi Technologies (NASDAQ:DEFT) last announced its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. DeFi Technologies had a return on equity of 42.24% and a net margin of 56.94%.The firm had revenue of $11.19 million for the quarter, compared to analyst estimates of $10.68 million. On average, analysts anticipate that DeFi Technologies will post -0.01 EPS for the current fiscal 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.